Why Beyond Meat Stock Dropped Today
Shares of Beyond Meat (NASDAQ: BYND) fell 3.6% on Wednesday after research firm CFRA issued a note of caution to shareholders of the plant-based food leader.
Analyst Arun Sundaram cut his rating on Beyond Meat from buy to hold following the stock's steep rise in recent weeks. Sundaram said he expects the meat-alternatives company to post larger losses in 2021 than he previously forecast due in part to higher labor and shipping costs. In turn, he increased his full-year loss per share estimate from $1.15 to $1.24.
Image source: Getty Images.
Source Fool.com
