Bears / shorts / paid bashers what’s the thesis now?
Serious question for the bears here.
For months, the bear case around $BYND seemed to revolve around the same things:
- Nasdaq delisting risk
- The 2027 debt wall
- Liquidity / bankruptcy fears
- “They won’t survive long enough to turn the business around”
Now the 1:30 reverse split is addressing the Nasdaq compliance issue, and the debt restructuring has significantly reduced the near-term maturity problem and pushed the major debt story much further out.
So what’s the bear thesis now?
Obviously there are still legitimate risks: execution, margins, cash burn, further dilution, continued weakness in U.S. plant-based meat, and the possibility that Beyond Immerse or the broader product expansion simply doesn’t work.
But outside of “management fails to execute the turnaround”, what is the big existential bearish catalyst left?
If Q3/Q4 show stabilization, margins continue improving, international retail keeps growing, Steak Filet gains traction, and Immerse starts showing decent velocity/reorders what exactly is the next fear narrative?
Genuinely curious to hear the strongest bear case.
Because “the company is going to be delisted and crushed by the 2027 debt wall” doesn’t look like the same thesis it was a few months ago.
So bears, shorts, bashers what are you betting on now?