Beyond Meat Stock Looks Expensive: Is It a Buy?
Plant-based meat company Beyond Meat (NASDAQ: BYND) has won over a lot of consumers with its products. But the stock is struggling to win over investors. After a successful start following its 2019 initial public offering (IPO), the stock has stagnated and is down over 40% from 2019 highs as of this writing.
For the most part, investors don't question the secular trend. There seems to be a clear shift among consumers toward plant-based meat alternatives. However, many believe Beyond Meat stock is grossly overvalued, and there's some merit to this concern. But there's also good reason to keep its lofty valuation in perspective.
Image source: Beyond Meat.
Source Fool.com
