#3 - Beyond Meat (NASDAQ:BYND)
Ok, if Amazon and Microsoft seemed rather obvious selections, here’s one that may not. Beyond Meat (NASDAQ:BYND) has been a volatile stock since its initial public offering in 2019. But it’s hard to question what the company has done in 2020. BYND stock has nearly doubled this year despite the global pandemic.
One reason for this has been that meat prices soared during the pandemic as processing plants were disrupted due to Covid-19. This gave Beyond Meat an important opportunity to get people to sample its products. And it made the company’s prices, which may have been an inhibiting factor, seem much more appealing.
But organic growth alone hasn’t been the only driver of this company’s success. The company continues to expand its product offerings and is generating a footprint in China and Canada.
Beyond Meat appeals to the younger investors of Robinhood because of its commitment to plant-based foods. These investors are much likely to put their money where their values are and it shows.
To be sure, the long-term fortunes for Beyond Meat remain a little unclear. More competition is moving into the plant-based meat category. And the company is in a race to differentiate its products beyond price. But in terms of stocks that are winning right now, you’d have to say that Robinhood investors have it right.
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
- $7.19
- Consensus Rating
- Strong Sell
- Ratings Breakdown
- 0 Buy Ratings, 3 Hold Ratings, 6 Sell Ratings.
- Consensus Price Target
- $5.56 (22.6% Downside)
