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.
Source Fool.com