Beyond Meat Slumps After a Deep Price-Target Cut
Shares of imitation-meat producer Beyond Meat (NASDAQ: BYND) have been crashing for the past few months, a sign that the euphoria around the trendy processed food company is fading. The stock price decline was hastened on Friday when Bernstein slashed its price target from $172 to $130.
Beyond Meat stock was down 6.4% by market close on Friday. Since peaking in late July, shares are now down a whopping 53%.
Image source: Beyond Meat.
Source Fool.com
