Up 50% in the Past Month, Is Beyond Meat Stock a Buy?
Plant-based meat products have become mainstream in recent years with Beyond Meat (NASDAQ: BYND) becoming an early leader in an industry Bloomberg Intelligence once projected could be worth more than $162 billion by 2030 (up from just $29 billion in 2020). The company has come out with plant-based patties, sausages, nuggets, and "chicken" tenders. But despite the widening availability of these meat substitutes, shares of Beyond Meat haven't won over investors.
Since going public at $25 per share in 2019, the stock is down about 60%. From its peak a few months after the IPO, the stock has plummeted over 95%. But recently, investors have become more bullish with shares of Beyond Meat up 50% in just the past month. Has this beaten-down stock finally won value investors over?
One thing investors should be aware of when evaluating Beyond Meat is that there's a lot of volatility that comes with this stock. Beta is a measure of how closely a stock follows the broad market, with a beta value of 1 indicating that it moves in unison with the market. But Beyond Meat stock has a beta of nearly 2.3, indicating that its swings in value are much more drastic.
Source Fool.com
