Beyond Meat shares drop 17% on poor quarter, soft guidance

The company's stock was initially pummeled more than 17% in extended trading Wednesday after it reported a fiscal third-quarter net loss of $54.8 million, or 87 cents a share, compared with a net loss of $19,3 million, or 31 cents a share, in the year-ago quarter. Adjusting for one-time losses, Beyond reported a net loss of $36.8 million.