Is Beyond Meat Stock a Buy?
There's a disconnect between Beyond Meat's (NASDAQ: BYND) stock price and what's happening in the restaurant industry.
Restaurants have been hammered by the novel coronavirus pandemic. Many have shut down completely. Others are staying open for deliveries and take-out orders and are trying to make up the lost revenue that way. Because of all of this bad news, the market has killed many restaurant stocks.
Yet the market expects Beyond Meat, a supplier to restaurants, to continue its rapid growth? Its valuation is still sky-high even though its sales might actually go backward. This makes no sense.
Source Fool.com
