Here's Why Beyond Meat Is Getting Crushed Today
Shares of Beyond Meat (NASDAQ: BYND) fell as much as 24% today after the company reported third-quarter 2019 operating results. The animal-free protein developer posted its first-ever quarterly period with net income, jumped to a positive operating margin for the first nine months of 2019, and raised full-year 2019 revenue guidance (again).
Despite the progress, it appears investors wanted management to raise full-year 2019 revenue guidance much higher given the strength of the business. Additionally, the post-initial public offering (IPO) lockup period ends this week, which means early investors can now sell their shares for some long-overdue cash. That's likely to prompt an exodus of early investors -- and perhaps others looking to avoid the headache -- eager to cash in on the company's $5 billion valuation.
As of 10:30 a.m. EDT, the stock had settled to an 18.5% loss.
Source Fool.com
