Photo: Drew Angerer/Getty Images

Beyond Meat filed for a follow-on public offering of 3.25 million shares, which had a market value of $763 million at the time of filing.

Why it matters: Those same shares at today's open had a market value of just around $600 million, down more than 20%, as investors seem unable to stomach a secondary offering announced less than three months after IPO. Beyond Meat likely thought its much better-than-expected Q2 earnings could pump its new float, but it may have been a rotten bet.

Go deeper: The fake meat gold rush

Go deeper

Updated 19 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 11:30 p.m. ET: 31,478,387 — Total deaths: 968,726 Total recoveries: 21,622,862Map.
  2. U.S.: Total confirmed cases as of 11:30 p.m. ET: 6,895,685 — Total deaths: 200,768 — Total recoveries: 2,646,959 — Total tests: 96,612,436Map.
  3. Health: The U.S. reaches 200,000 coronavirus deaths — The CDC's crumbling reputation — America turns against coronavirus vaccine.
  4. Politics: Elected officials are failing us on much-needed stimulus.
  5. Business: Two-thirds of business leaders think pandemic will lead to permanent changes — Fed chair warns economy will feel the weight of expired stimulus.
  6. Sports: NFL fines maskless coaches.

Trump pushes to expand ban against anti-racism training to federal contractors

Trump speaking at Moon Township, Penns., on Sept. 22. Photo: Mandel Ngan/AFP via Getty Images

President Trump announced late Tuesday that the White House attempt to halt federal agencies' anti-racism training would be expanded to block federal contractors from "promoting radical ideologies that divide Americans by race or sex."

Why it matters: The executive order appears to give the government the ability to cancel contracts if anti-racist or diversity trainings focused on sexual identity or gender are organized. The memo applies to executive departments and agencies, the U.S. military, federal contractors and federal grant recipients.

Dan Primack, author of Pro Rata
4 hours ago - Economy & Business

GoodRx prices IPO at $33 per share, valued at $12.7 billion

Illustration: Sarah Grillo/Axios

GoodRx, a price comparison app for prescription drugs at local pharmacies, on Tuesday night raised $1.14 billion in its IPO, Axios has learned.

By the numbers: GoodRx priced its shares at $33 a piece, above its $24-$28 per share offering range, which will give it an initial market cap of around $12.7 billion.

Get Axios AM in your inbox

Catch up on coronavirus stories and special reports, curated by Mike Allen everyday

Please enter a valid email.

Subscription failed
Thank you for subscribing!