Why Beyond Meat Stock Plunged 28% in February
Shares of Beyond Meat (NASDAQ: BYND), the leading maker of plant-based meat substitutes, dropped 28.2% in February, according to data from S&P Global Market Intelligence. This decline was likely due to a continuation of the stock's downward trend, which stems from a string of weaker-than-expected quarterly reports, and the fourth-quarter 2021 report coming in lighter than many investors were probably anticipating.
Along with company-specific factors, overall market dynamics have also likely weighed on the stock. Starting late last year, many investors began rotating away from highly valued growth stocks due to the expectation of rising interest rates in 2022.
For context, the S&P 500 and Nasdaq indexes fell 3% and 3.4%, respectively, in February.
Source Fool.com
