From AgWeb, February 23:
There’s no animal blood on the floor in plant-based protein maker Beyond Meat’s processing facilities, but for three years the company has been bleeding cash. In fact, investors in the once trendy fake meat company have seen losses mounting.
Beyond Meat will release its fourth-quarter earnings on Thursday (Feb. 24), but caution flags were out to investors ahead of the report. Analysts project the quarter's loss per share will more than double. In the third quarter, Beyond Meat's revenue rose 13% year over year to $106.4 million, but net loss was $54.8 million. Shares that traded over $234 in July of 2019 were trading under $48 on Wednesday.
J.P. Morgan stock analyst Ken Goldman called Beyond Meat “the worst performer in our universe in the last year.” That’s because Beyond’s stock price fell 67% in a market that saw a median gain of 13%. Additionally, Goldman said, Beyond fell 15% over the past month, and 10% over the past week....
....MUCH MORE
As one of the smartest analysts I've ever known once said to me: "A trend is emerging."
Chartology: Remember The Chart Pattern That Preceded The Drop In Beyond Meat? (IWM; BYND)
ICYMI: Beyond Meat Collapses (BYND)
