Beyond Meat executive suspended after arrest in nose-biting incident
Shares of Beyond Meat Inc. hit an all-time intraday low on Tuesday, just days after the arrest of a top executive at the fake-meat maker and after months of broader difficulties surrounding inflation and competition.
Rising prices for groceries and other essentials are also hurting Beyond Meat. The company last month reported a dip in sales and a bigger-than-expected per-share loss, and announced a round of layoffs. Management said that customers “traded down among proteins in the context of inflationary pressures.”
Ramsey was arrested Saturday night and charged with third-degree battery and “terroristic threatening” after allegedly biting a man’s nose in a parking garage near a college football stadium in Arkansas. After the driver of the Subaru exited, Ramsey allegedly “pulled him in close and started punching his body,” and bit the driver’s nose, “ripping the flesh on the tip of the nose.” KNWA said the alleged victim and a witness also heard Ramsey “threaten to kill” the Subaru driver.
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