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.
ADVERTISEMENT