Beyond Meat, Inc. (BYND) shares plummeted 7.19% in intraday trading on Monday, as investors anxiously await the company's delayed third-quarter earnings report scheduled for release after the market close. The significant drop comes amid growing concerns about the plant-based meat company's valuation and financial performance.

The upcoming earnings report has garnered substantial attention, particularly after Beyond Meat postponed its original release date from last week. Analysts expect the company to report third-quarter revenue of $68.96 million, down from $81.01 million in the same quarter last year. The consensus estimate for earnings per share stands at a loss of 31 cents, an improvement from the 41 cents per share loss reported in the previous year's quarter.

Beyond Meat's stock has recently experienced increased volatility, driven by social media interest and its inclusion in the Roundhill Meme Stock ETF. However, this surge in popularity has also raised questions about the company's valuation, with some high-profile investors, including Martin Shkreli, publicly announcing short positions. As the earnings report approaches, investors are likely seeking clarity on Beyond Meat's debt levels, future financing plans, and strategies to boost sales demand. The sharp decline today suggests that the market may be pricing in potential disappointment or uncertainty ahead of the crucial earnings announcement.