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Is Beyond Meat a Buy Now?

TheMotleyFool

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Is Beyond Meat a Buy Now?: https://g.foolcdn.com/editorial/images/759436/21_06_10-a-person-holding-their-face-with-a-computer-showing-stock-losses-in-the-background-_gettyimages-1213023814.jpg

Shares of Beyond Meat (NASDAQ: BYND) are down about 30% over the past year. But there was a big announcement on Nov. 2 that lifted its shares by around 25%. Is this a sign that Wall Street thinks the alternative meat company has turned a corner and now is the time to buy?

Beyond Meat held its initial public offering (IPO) in 2019 to much fanfare. The stock rose over 200% in very short order. But that turned out to be the high-water mark, with a fairly quick retreat to the IPO price. After a few big ups and downs, the stock is now around 85% below its IPO level. The early excitement here has clearly faded.