26% RETURN IN TWO MONTHS

BEYOND MEAT (BYND) SHORT SALE

(Originally Published 4/10/2021)

BYND hit a 52-week high of $221.00 in January 2021 on its announcement of a joint venture with PepsiCo  “to create and scale new snack and beverage options”. 

The surge increased BYND’s market cap by about 45% or about $3.7 Billion – with no indication of what degree of tangible sales results,if any, might be coming, just lots of hope.

In our February 7, 2021 issue, with the stock at $168.92, we strongly expressed our continuing skepticism about BYND’s valuation. Its price/sales ratio, then about 27x, could only be justified by very strong sales growth, which the subsequent Q4 earnings report showed not to be happening yet. 

As we expected, BYND fell to $123.50 on March 30th,

giving our Subscribers a 26% return on short sales in two months.

* * *

(Note: BYND closed at $5.30/share on August 6, 2024.)

See https://beyondmeat.com

 

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