BYND - Beyond Meat Stock Is Suddenly Surging: Should You Buy the Rip?
2024-05-19 05:10:00 ET
It's been a disappointing journey for shareholders of plant-based meat company Beyond Meat (NASDAQ: BYND) . Shares are down 96% from their all-time highs in 2019. It was a disappointing journey -- that is, until things started getting interesting over the last month.
In just one month, Beyond Meat stock is up 34%, outpacing the 2% return for the S&P 500 . It's one of the best performances the stock has had in a long time. Could the outlook for shareholders finally be improving? Is this a rip worth buying?
Unfortunately, I believe the answer to these questions is no -- nothing has happened in the last month to improve Beyond Meat's prospects. To the contrary, I believe there are good reasons to sell today and the current rip could be an opportunity to sell at a slightly better price.
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Beyond Meat Stock Is Suddenly Surging: Should You Buy the Rip?