Beyond Meat's IPO on May 2, 2019 captured the peak of the plant-based meat hype cycle perfectly. The 163% first-day surge was fueled by genuine excitement about disrupting the $1.4 trillion global meat industry. The stock reached $239 by late July as short squeezes amplified the rally. Then reality set in: competition from Impossible Foods, private-label alternatives from supermarkets, and persistent losses. By 2022, the stock traded below $10 — a 96% decline from its high. A textbook mania-to-despair arc.