Menu

Beyond Meat’s stock crashes after JP Morgan downgrade

By Staff Correspondent |

Shares of Beyond Meat Inc. (NASDAQ: BYND) were down over 20% in morning hours on Tuesday after JP Morgan downgraded the stock from Overweight to Neutral. The firm has set its price target at $120.

JP Morgan was the lead underwriter for Beyond Meat’s IPO which took place in May. Analyst Ken Goldman hinted in a note that the stock is too expensive. On Monday, the stock jumped over 600% from its IPO price of $25.

The stock price is said to have exceeded the price target of every Wall Street analyst. According to a report by CNBC, short sellers lost over $400 million betting against the stock.

Last week, Beyond Meat reported its first quarter 2019 results, in which the company reported a 215% increase in revenue to $40.2 million. Net loss widened to $6.6 million while loss per share narrowed to $0.95.

For the full year of 2019, the company has guided for revenues to increase more than 140% to $210 million. Adjusted EBITDA is projected to be about break-even.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Advertisement

215 responses to “Beyond Meat’s stock crashes after JP Morgan downgrade”

  1. Community service

    […]Wonderful story, reckoned we could combine several unrelated information, nonetheless definitely really worth taking a appear, whoa did a single learn about Mid East has got additional problerms as well […]

  2. Fiverr Earn

    […]Wonderful story, reckoned we could combine a couple of unrelated information, nevertheless definitely really worth taking a search, whoa did one particular understand about Mid East has got extra problerms also […]

  3. drip bucket hat

    […]Wonderful story, reckoned we could combine a couple of unrelated data, nonetheless really worth taking a look, whoa did one particular learn about Mid East has got much more problerms at the same time […]

  4. Fiverr.Com

    […]Wonderful story, reckoned we could combine a handful of unrelated information, nevertheless truly really worth taking a look, whoa did one find out about Mid East has got extra problerms too […]

  5. Fiverr.Com

    […]Wonderful story, reckoned we could combine a number of unrelated information, nonetheless genuinely worth taking a look, whoa did one master about Mid East has got far more problerms at the same time […]

  6. FiverrEarn

    […]Wonderful story, reckoned we could combine a number of unrelated information, nevertheless seriously worth taking a search, whoa did one particular discover about Mid East has got a lot more problerms at the same time […]

  7. FiverrEarn

    […]Wonderful story, reckoned we could combine several unrelated data, nonetheless seriously really worth taking a look, whoa did a single master about Mid East has got more problerms too […]

  8. FiverrEarn

    […]Wonderful story, reckoned we could combine a number of unrelated data, nonetheless genuinely really worth taking a appear, whoa did a single study about Mid East has got far more problerms as well […]

  9. FiverrEarn

    […]Wonderful story, reckoned we could combine a couple of unrelated information, nevertheless actually really worth taking a appear, whoa did a single discover about Mid East has got much more problerms as well […]

  10. Supper

    […]Wonderful story, reckoned we could combine some unrelated information, nevertheless seriously worth taking a appear, whoa did 1 learn about Mid East has got extra problerms at the same time […]

  11. หวย24

    […]we prefer to honor several other world wide web web pages on the net, even though they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

  12. cybersécurité

    […]Wonderful story, reckoned we could combine a couple of unrelated information, nevertheless definitely really worth taking a look, whoa did 1 master about Mid East has got a lot more problerms too […]

  13. floodle

    […]we like to honor quite a few other world wide web websites around the web, even when they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[…]

  14. 스포츠분석

    […]Wonderful story, reckoned we could combine a couple of unrelated data, nonetheless truly really worth taking a search, whoa did one particular find out about Mid East has got extra problerms too […]

  15. Dog Papers

    […]we like to honor a lot of other world wide web websites around the web, even when they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

  16. french pitbull

    […]we prefer to honor many other internet sites on the internet, even when they aren’t linked to us, by linking to them. Underneath are some webpages really worth checking out[…]

Leave a Reply

Top