There is far more appeal for Beyond Meat (NASDAQ: BYND) and its plant-based beef alternatives than I thought existed almost one year ago. Some of the risks I highlighted then still exist, but the protein-substitute producer has mitigated others, while an elevated valuation remains a constant.

Let's look at Beyond Meat's business to see whether it has grown into that valuation and if investors should buy its stock, let alone its beef substitutes.

Image source: Getty Images.

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Source Fool.com