Shares of Beyond Meat (NASDAQ: BYND) rose over 77% in the first six months of the year, according to data provided by S&P Global market Intelligence. That easily bested the 4% decline of the S&P 500 in that span and was a sign that investors are buying back into the company's growth pitch.
It's also worth acknowledging that the stock began the year far below all-time highs set last summer, which set the stage for a possible "recovery." While shares are cruising along right now, investors might not want to get too carried away. The effects of the coronavirus pandemic will cause an immediate shift in product mix from foodservice sales to consumer sales, which could stunt growth in the near term.
Can the growth stock continue rising heading into second-quarter 2020 earnings results?