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Beyond Meat Bounces Back from Sharp Decline with New 'Meatier' Burger Patty

Streetwise Reports
0 Comments|June 13, 2019

Plant-based meat company Beyond Meat has had a volatile week, with share price dropping 25% on Tuesday. But things may be looking up again for this vegan protein producer, with shares bouncing back 12.6% on Wednesday, following the announcement of a new product.
 


Companies that supply vegan proteins and plant-based meat alternatives have been enjoying popularity among consumers and investors lately. At center stage of the plant-based meat movement is Beyond Meat Inc. (BYND:NASDAQ), which saw its stock price rise 600% since it began trading in May.

Some of this newfound attention on alternative meat products has been spilling over onto other vegan protein companies, such as Burcon NutraScience Corp. (BU:TSX), which also saw a marked rise in the value of its shares.

But a recent analyst note from JPMorgan's Ken Goldman has called into question how much room remains for continued share price increases in plant-based meat stocks—specifically for Beyond Meat. Goldman writes, "As we wrote last week, 'At some point, the extraordinary revenue and profit potential embedded in Beyond Meat. . .will be priced in'—we think this day has arrived."

The firm downgraded the company from "overweight" to "neutral," and the stock price responded with a drop of 25% on Tuesday, June 11.

Yet, the show isn't over for Beyond Meat. Already a popular choice for consumers shopping for meat alternatives, the company's Beyond Burger is getting an upgrade. In the press release issued June 11, the new burger product is described as "meatier" and "features marbling designed to melt and tenderize like traditional ground beef."

The news seems to have been enough to rekindle the fire, as shares quickly turned around from their Tuesday decline and gained 12.6% during Wednesday trading, to close at $141.97.


Disclosure:
1) Kevin Jaillet compiled this article for Streetwise Reports LLC and is an employee of Streetwise Reports. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.


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