Beyond Meat slid more than 13% in premarket trading as it reduced its third quarter net revenues outlook

Beyond Meat slid more than 13% in premarket trading as it reduced itsthird quarter net revenues outlook.The company announced that it is reducing its third quarter net revenues outlook. The company is proceeding through its quarterly close, and based on preliminary results, the company now expects third quarter net revenues of approximately $106 million as compared to prior guidance of $120 million to $140 million. Although the company’s previous third quarter guidance anticipated a sequential decline in net revenues, the deceleration was larger than anticipated.