Shares of Beyond Meat (BYND) plunged 11.57% on Tuesday after the plant-based meat alternative company reported disappointing third-quarter results and provided a weak forecast for the fourth quarter. The stock's sharp decline reflects growing investor concerns about the company's financial health and the overall demand for plant-based meat products.

Beyond Meat posted a net loss of $110.7 million for the third quarter, significantly wider than the $26.6 million loss reported in the same period last year. The company's revenue fell 13.3% year-over-year to $70.2 million, barely surpassing analysts' expectations of $68.96 million. The decline was attributed to a 10.3% drop in product volume sold and a 3.5% decrease in net revenue per pound, driven by weak category demand.

Adding to investor worries, Beyond Meat forecast fourth-quarter net revenues between $60 million and $65 million, falling short of Wall Street estimates of $70 million. CEO Ethan Brown acknowledged the ongoing headwinds, stating that the company is pursuing "further and sizable cost cuts" while also investing in initiatives to expand gross margins and drive strategic growth. As Beyond Meat continues to navigate what it describes as "an elevated level of uncertainty within its operating environment," the company's ability to address key investor concerns, including debt levels and strategies to boost sales demand, will be crucial in restoring market confidence.