Stock Market Sell-Off: Is Beyond Meat a Buy?
Many formerly popular growth stocks spiked higher in early 2023. With its 30% rally since the start of the year, Beyond Meat (NASDAQ: BYND) easily fits into that category.
Yet, the shares remain down by nearly 70% in the last full year, reflecting deep challenges for the plant-based meat specialist on both the growth and earnings fronts. With that big picture in mind, let's look at a few reasons to be cautious about jumping into the stock today.
Beyond Meat's last few earnings reports gave shareholders very little to celebrate. The company missed growth expectations through most of 2022. That included a painful 23% sales decline in the third-quarter period that ended in early October. Net losses landed at $102 million that quarter, or 123% of revenue. The company even lost money on a gross basis due to write-downs associated with its beef jerky style product.
Source Fool.com
