Beyond Meat takes a hit as it launches plant-based jerky

Beyond Meat said that higher manufacturing and shipping costs for its new plant-based jerky, launched with PepsiCo, contributed to its poor quarterly performance. "To launch a first-time product at such a large scale and prior to the establishment of our own dedicated and streamlined process, we had to do so in an expensive and inefficient manner," CFO Philip Hardin said on an earnings call.