Beyond Meat Battered Back Below $100 To 5-Month Lows
The fake meat bubble has burst…
While Beyond Meat IPO’d at $25, the secondary offering at $160 on August 1st (when some holders, including CEO Ethan Brown took advantage of the fake meat bubble to sell shares) looks a long way from here as BYND shares drop back below $100 for the first time since May…
Beyond Meat’s third-quarter revenue is expected to triple from the same period last year given the rising number of partnerships with retailers and restaurants, Bloomberg Intelligence analyst Jennifer Bartashus wrote. Profit is still “elusive” as investments in R&D and infrastructure continue to weigh on results.
The El Segundo, California-based company reports after the bell on Monday.
Wed, 10/23/2019 – 12:34