Why Beyond Meat Stock Sank on Friday
Shares of Beyond Meat (NASDAQ: BYND) sank on Friday, dragged down with the rest of the market. As of 3 p.m. EDT, the stock was down 6%, and it's now fallen around 27% from 52-week highs reached earlier in October. Falling this far this fast would seem to indicate a fundamental problem with the business, but that's not the case with Beyond Meat.
Beyond Meat is a growth stock, increasing shareholder value via an aggressive expansion plan. The plan is multifaceted and includes new products, new markets, and new distribution channels. The company made progress on all three fronts in October.
Image source: Beyond Meat.
Source Fool.com
