Beyond Meat Stock Plunged Thursday - Here's What Happened
Portfolio Pulse from Ryan Gustafson
Beyond Meat, Inc. (NASDAQ:BYND) shares fell after Mizuho analyst John Baumgartner downgraded the stock from Neutral to Underperform and announced a $5 price target. The analyst cited a lack of product innovation, need for new capital due to cash burn, tightening liquidity, and lack of increased consumption for the company's products as reasons for the downgrade. The stock is down 56.44% over the past six months.
October 19, 2023 | 8:25 pm
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Beyond Meat's stock was downgraded by Mizuho, leading to a fall in share price. The stock is down 56.44% over the past six months.
The downgrade by Mizuho is a significant negative event for Beyond Meat. The reasons cited by the analyst, including lack of product innovation and need for new capital, are serious concerns for investors. This, combined with the overall negative market sentiment, has led to a significant drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100