#4 - Beyond Meat (NASDAQ:BYND)
Beyond Meat (NASDAQ:BYND) has only been a publicly-traded stock for a little over two years. But looking at the company’s stock chart could easily be confused with being on one of the roller coasters at a Cedar Fair property.
The plant-based movement is real. And yet has not quite lived up to the hype. But as a short-term summer stock, I can make a case for Beyond Meat. The global meat industry is just recovering from a ransomware attack on JBS (OTCMKTS:JBSAY), the Brazil-based meat processing giant. BYND stock got a nice spike on that news. However, that’s not the real story.
The fact is meat prices have been climbing throughout the pandemic. The strain on supply chains as businesses reopen, high commodity prices, and labor shortages after prolonged Covid-19 shutdowns are just a few reasons for the higher prices. But whatever the reason, the door is open for consumers to give Beyond Meat a chance.
Analysts believe BYND stock is overvalued. And without the current strain on meat supply, I would likely be right there with them. But this is not about forever stocks, it’s about “for now” stocks. And in that context, Beyond Meat has a chance to do special things.
About Beyond Meat
Beyond Meat, Inc, a plant-based meat company, develops, manufactures, markets, and sells plant-based meat products in the United States and internationally. The company sells a range of plant-based meat products across the platforms of beef, pork, and poultry. It sells its products through grocery, mass merchandiser, club stores, and natural retailer channels, as well as various food-away-from-home channels, including restaurants, foodservice outlets, and schools.
Read More - Current Price
- $7.17
- Consensus Rating
- Strong Sell
- Ratings Breakdown
- 0 Buy Ratings, 3 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $5.56 (22.4% Downside)
