BYND - Beyond Meat's Biggest Problem Just Got Bigger and Investors Should Be Paying Attention
2024-03-07 07:17:00 ET
Beyond Meat (NASDAQ: BYND) took off like a rocket ship when it reported fourth-quarter 2023 earnings, with the shares gaining roughly 50% in value in a single day. Within a few days, the stock had given back much of that gain, and if you look further back in time, it's still down roughly 95% from its high-water mark in 2019. If you are looking at Beyond Meat, you need to tread very carefully. The good earnings news isn't as good as it may seem at first.
To be completely fair to Beyond Meat, Q4 2023 was, indeed, a good one for the company. It lived up to its self-imposed goal of cutting costs, and it was able to increase volumes in new markets outside the United States. The numbers on the second point were fairly impressive, with retail channel sales in foreign markets up 22.1% in the quarter and 33.7% higher in the food service channel.
Image source: Getty Images.
For further details see:
Beyond Meat's Biggest Problem Just Got Bigger, and Investors Should Be Paying Attention