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But this scorching hot rally in Beyond Meat has come under pressure recently.
Specifically, BYND stock has fallen more than 20% off its early June highs on three major, ostensibly negative developments:
- Animal-based meat production has normalized much more quickly than expected, providing more competition for plant-based meat products in grocery stores.
- Starbucks (NASDAQ:SBUX) — who partnered with Beyond Meat on a plant-based breakfast sandwich in China and Canada — chose Beyond’s main competitor, Impossible Foods, to launch a plant-based breakfast sandwich in the U.S.
- McDonald’s (NYSE:MCD) has ended its test trial of Beyond products in its stores, with no clarity as to what comes next.
The stock is taking an 8% dive today on a double downgrade from Barclays. Given that negative news flow, it’s no wonder that investors are doing some profit taking on BYND stock.
But this profit-taking will end soon, because the aforementioned headwinds are ephemeral and largely inconsequential, while the long-term growth narrative supporting more robust consumer adoption of plant-based meat and more robust placement of Beyond Meat products into the world’s meat supply chain remains as vigorous as ever.
As such, I’d look to buy the dip in BYND stock around the $110 level.
Here’s a deeper look at why…
Editor's Note: Click here to keep reading.
65 Ways You Can Make Extra Cash in This Crazy Environment
With the market crisis moving into our rearview mirror, folks are now looking for ways to get back to making money.
Neil George wants to show you how to get his new book that profiles 65 simple ways to earn large amounts of work-free income.
…extra cash that you can collect ON TOP of your Social Security check…
…without messing around with crappy jobs. (Pizza delivery driver? No way.)
These are PROVEN cash-gushing strategies… the kind typically used by the wealthy elite.
And the best part is…
Neil George has set aside copies of his book, Income for Life, and he’s willing to send you a hardback version today ABSOLUTELY FREE (just pay shipping). This may be the last time we offer this.
Here's just a sample of what you can find inside:
- Use what Neil calls the “FHA Loophole” to get the government to pay your mortgage — PLUS receive hundreds in extra cash on top.(Page 217)
- Collect $100s for pictures in old family photo albums! Believe it or not, there is an easy way to turn your old artwork/photographs into $100 bills (certain businesses are desperate). (Page 297)
- Get paid every time your favorite song gets played on the radio! This little-known website allows you to tap into royalty payments every time your favorite song is played on the radio. Some lucky folks collect thousands of dollars a year! (Page 307)
- Pocket upwards of $197 PER HOUR simply by taking a walk through the woods in the fall… or $137 while visiting your favorite beach in the summer… and many, many more!
This book is flying off the shelves and this may be the last run of copies we print.
So if you don't claim your copy of Income for Life today, we'll send it to the person behind you in line…