Beyond Meat has been popular with short-sellers since its 2019 debut, but this is the all-time high
harles Lemonides is a short-seller who doesn’t like to pile into stocks that a lot of other investors are also betting against. He said he’s nervous about Beyond Meat.
Beyond Meat, a maker of pea-protein-based alternatives to burgers, ground beef, sausages and chicken nuggets, has revised expectations and faces lackluster growth in restaurants. During the first three-quarters of 2021, the unprofitable Beyond posted $400 million in revenue, but an earnings miss – “not a little miss,” Lemonides said at the time –pushed the stock price down double digits.
There are reasons for optimism. Beyond Meat’s McPlant burger, available at McDonald’s outlets, may yet be a driver of the company’s growth. The company announced last week that a jerky made with pea protein would be a product of a joint venture with Pepsi. And investors so loved the stock soon after its 2019 initial public offering that it doubled in price, touching $235 a share. It’s now in the $60 range.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Howard Stern Says Meat Loaf’s Family Should ‘Come Forward’ About COVID-19 VaccinesFollowing Meat Loaf’s death, Howard Stern is hoping for the late rocker’s family to speak out about COVID-19 vaccines.
Read more »
Meat prices are still rising but you could be paying less for that steak soonWhy are meat prices so high? Buying steak, chicken and pork has gotten increasingly expensive over the past year but things might start getting cheaper real soon.
Read more »
Howard Stern wants Meat Loaf’s family to speak out about COVID vaccines“I wish the family would come forward and say… ‘When Meat Loaf was laying there in the hospital and he couldn’t breathe, he said, ‘I made a mistake.”
Read more »
Did Eating Meat Really Make Us Human?For decades, scientists thought that being more carnivorous set our ancestors along their evolutionary path. New evidence casts doubt on this theory.
Read more »
Beyond academia: Breaking down the barriers that curtail industry collaborations and career movesHow porous is the metaphorical membrane between academia and industry? Julie Gould finds out.
Read more »