BYND - Will Beyond Meat Reach a Billion-Dollar Market Cap by 2025?
2024-06-05 10:00:00 ET
Beyond Meat (NASDAQ: BYND) , a leading producer of plant-based meat substitute products, went public on May 2, 2019, at $25 a share. Its stock closed at $65.75 on the first day and subsequently soared to an all-time high of $234.90 on July 26, 2019.
At its peak, Beyond Meat's market cap reached $14.1 billion, or 47 times the revenue it would actually generate in 2019. The bubbly valuation made an easy target for the bears as its growth cooled off and its losses widened. Rising interest rates exacerbated that pain by driving investors away from speculative growth stocks.
Today, Beyond Meat's shares trade at about $7, giving the company a market cap of $492 million. It clearly disappointed a lot of investors over the past five years, but could it more than double from these levels and become a $1 billion company again by 2025?
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Will Beyond Meat Reach a Billion-Dollar Market Cap by 2025?