BYND - Down 89% Since Its IPO Is Beyond Meat Stock Too Cheap to Pass Up?
2024-05-23 09:30:00 ET
Beyond Meat (NASDAQ: BYND) was an exciting new stock to hit the markets in 2019. As a potential alternative to meat-based burgers, its plant-based products were definitely full of potential. But despite launching multiple products, Beyond Meat's business hasn't been taking off. In fact, sales have been declining of late.
The company faces a challenging road ahead as it tries to generate sales growth while also paving a way to profitability. There's plenty of risk involved with buying the stock right now, but is its valuation so low that it is worth taking a chance on the business today? Let's look at the company and whether the price could finally be right for growth investors to buy shares.
On May 8, Beyond Meat reported its latest quarterly results. And for investors, unfortunately, it was another lackluster performance. Net revenue of $75.6 million for the first three months of the year declined by 18%, and the company barely squeezed out a gross profit of just $3.7 million.
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Down 89% Since Its IPO, Is Beyond Meat Stock Too Cheap to Pass Up?