Here's Why Beyond Meat Stock Plunged 38% Last Month
Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) fell 37.9% in October, according to data provided by S&P Global Market Intelligence. The company is considered to be a more speculative investment. And this type of stock did very poorly in October generally as the S 500 dropped 2% for the month.
That said, investors seem to worry about the long-term sustainability in demand for plant-based meat -- the products that Beyond Meat makes. And it's not just retail investors who are worried, but also analysts. For example, John Baumgartner of Securities recommended selling Beyond Meat stock in mid-October, citing a consumer demand problem.
Beyond Meat stock steadily sold off for the rest of October after Baumgartner's commentary. And news in November shows that Baumgartner's opinion was actually well founded.
Source Fool.com
