Why Beyond Meat Stock Plunged 43.2% in October
Shares of Beyond Meat (NASDAQ: BYND) fell 43.2% in October, according to data from S&P Global Market Intelligence, as investors digested both the plant-based meat leader's third-quarter 2019 results, as well as the expiration of its post-IPO lockup period.
It certainly didn't help that multiple analysts weighed in with tempered appetites for Beyond Meat stock early in the month, including a market perform rating from Wells Fargo on Oct. 14, with a steeply reduced price target from Bernstein a few days later. Both analysts voiced concerns over the stock's valuation and competition for its flagship plant-based imitation meat products.
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Source Fool.com
