![]() He also wants consumers to be able to buy shares because they've fuelled the company's growth. ![]() It sells to 30,000 grocery stores, restaurants and schools in the U.S., Canada, Italy, the United Kingdom and Israel.īeyond Meat CEO Ethan Brown said the IPO timing is right, as the company wants to expand overseas. The 10-year-old company has attracted celebrity investors such as Microsoft co-founder Bill Gates and actor Leonardo DiCaprio, as well as buzz for placing its products in burger joints like Carl's Jr. ![]() By the end of the day, the shares had closed at $65.75, up 163 per cent. The first trades came in at around $46 per share before rising steadily through the day. That values the company at about $1.5 billion US.īut when the shares started trading on the Nasdaq on Thursday afternoon, investors quickly bid up the price of the shares to $72, almost three times the IPO pricing. The company is the first pure-play maker of vegan "meat" to go public, according to Renaissance Capital, which researches and tracks IPOs.īeyond Meat raised about $240 million US selling 9.6 million shares for $25 each on Wednesday alternative. But how would these numbers change if you are interested in holding BYND stock for a shorter or a longer time period? You can test the answer and many other combinations on the Trefis Machine Learning Engine to test BYND stock chances of a rise after a fall and vice versa.Beyond Meat, a maker of meat alternatives, went public on stock markets on Thursday, and investors quickly drove up the price of the shares within minutes of being able to finally sink their teeth into the company. Also, there is a 56% probability that the stock will give a positive return in the next three months. According to the Trefis Machine Learning Engine, which identifies trends in a company’s stock price data for the last two years, returns for BYND stock average 63% in the next three-month (63 trading days) period after experiencing a 49% drop over the previous six-months (126 trading days) period. We believe this is likely to be a temporary stumbling block. But will BYND’s stock continue its downward trajectory over the coming weeks, or is a recovery in the stock more likely? With continued high investment in R&D, investors are worried that another Covid-19 wave will take a toll on the company’s foodservice division, with top line growth being affected even as the company continues to incur higher expenses. In Q2 2021, despite revenues rising 32% y-o-y, net loss almost doubled from $10.2 million to $19.7 million on account of higher R&D expenses. Also, there are some concerns regarding the company’s profitability. If the cases continue to rise and some form of lockdowns are reimposed, it will lead to supply bottlenecks and reduced demand for these new products, thus affecting the company’s top line growth. Beyond Meat recently announced the launch of its new plant-based chicken tenders at restaurants in the U.S. The spread of the Delta variant has also led to fear and uncertainty regarding re-imposition of lockdowns. ![]() A major part of this decline has come in July 2021, mainly due to caution on the part of investors on the foodservice sector amidst resurgence in Covid-positive cases. ![]() Beyond Meat stock (NASDAQ: BYND) has dropped almost 50% in the last six months and currently trades at $127 per share. ![]()
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