Why I Bought Beyond Meat Stock Now
Ethan Brown envisioned helping the environment by creating meat-alternative products out of plants, so he founded Beyond Meat (NASDAQ: BYND). The company is flourishing, largely due to landing on the menus of casual-dining and fast-food restaurant chains around the country. However, restaurant dining rooms are currently closed because of the COVID-19 pandemic.
Beyond Meat reported 2019 revenue of $298 million, up 239% from 2018. In late February, it guided for $490 million to $510 million in revenue for 2020 -- good for 64% to 71% growth year over year. But that was before the coronavirus. Since restaurant sales are slumping, conventional wisdom says to throw Beyond Meat's guidance -- and stock -- out the window.
That's misguided, though. Here's why.
Source Fool.com
