Why Beyond Meat Stock Got Crushed Today
Shares of Beyond Meat (NASDAQ: BYND) got crushed today, closing down 8%, after receiving a downgrade from Wall Street. UBS cut its rating on the plant-based meat substitute maker to sell.
UBS had initiated coverage in November with a neutral rating, but today cut that rating to sell while also slashing its price target from $90 to $73. As of Friday's close, the stock had already more than doubled from recent lows set in March.
Image source: Beyond Meat.
Source Fool.com