Wall Street has moved to cool down investors in US plant-based "meat" producer, Beyond Meat, whose share price has jumped around 600 per cent since the company went public last month.
J.P. Morgan, the New York-based international investment bank, announced this week it had downgraded stock of the fake meat company from "neutral" to "overweight".
Other Wall Street analysts have echoed the warning.
Beyond Meat shares, which were trading above $US168 before J.P. Morgan's announcement, immediately tumbled to around $US136. Its shares were selling at $US141.97 yesterday.
The alternative-protein startup was floated on the stock market at $US25 and short-sellers have so far lost more than $US400 million betting against the company.
On the same day J.P. Morgan issued its downgrade, Beyond Meat announced the launch of a new, improved "meatier" burger.
Cocoa butter and coconut oil are being used to create a marbling and texture the company says more closely resembles real beef.
Apple extract also changes the color of the meat substitute from red to brown during cooking.
The company has announced Beyond Meat breakfast sandwiches are being offered in almost 4000 Tim Horton restaurants in Canada.
Retail sales of Beyond Meat have more than doubled in the past year, accounting for $US19.6 million.
Beyond Meat delivered its first quarterly report since going public last month with a net loss of $US6.6 million compared with a net loss of $US5.7 million a year earlier.
The company predicted its revenue will more than double in 2019 as demand from existing and new customers continues to grow.
In a tweet soon after the launch Citron Research Group said the price of Beyond Meat had "become beyond stupid".
Meanwhile, Swiss food giant, Nestle, could expand its plant-based burger sales partnership with fast food chain, McDonald's, beyond Germany and is also looking for other partners.
The market for meat substitutes could soar to $140 billion over the next decade, according to Barclays, as many health- and climate-conscious consumers sought to reduce their meat consumption.
Nestle launched its plant-based Incredible Burger in April under the Garden Gourmet brand in several European countries. The same month McDonald's started selling the patties as "Big Vegan TS" in its 1500 restaurants in Germany.
Nestle will launch a plant-based burger in the US later this year where it will compete with products made by Beyond Meat and Impossible Foods.
Its Awesome Burger would be available from retailers and at restaurants in the US in September or October.
US fast-food giant, Burger King, said its Impossible Whopper would be released nationwide by the end of 2019 after a successful limited launch at locations in and around St. Louis, Missouri.
The Impossible Whopper was the result of a partnership with Impossible Foods, a competitor to Beyond Meat.