A Bull Market Is Coming, but These 2 Stocks Could Be Left Behind
The S 500 has surged about 24% in 2023 despite a tough economic backdrop. The index is hovering around its all-time high, and plenty of stocks have been taken along for the ride. A new bull market is approaching, although not all stocks will benefit.
Beyond Meat (NASDAQ: BYND) and (NASDAQ: ETSY) were left behind in 2023, with both stocks tumbling around 30%. If these companies can't get their acts together, a repeat performance could be coming in 2024.
The fake meat revolution has hit a brick wall. Beyond Meat, one of the industry's pioneers, is struggling mightily with sinking demand. Through the first nine months of 2023, Beyond Meat's revenue tumbled 20% on a 12% drop in product volume. Consumer demand is faltering, and Beyond Meat has had to ramp up trade discounts to prevent volumes from falling further. In the U.S. retail channel, net revenue per pound declined 18.6% in the third quarter.
Source Fool.com
