Stock market hype surrounding Beyond Meat fades away
The high flight of Beyond Meat <US08862E1091> has ended for the time being - at least at the stock exchange. The US company with the coveted vegan burgers once again suffered heavy price losses at the beginning of the week, and the share was trading weaker for the fifth day in a row. Although the company value is still much higher than before the furious IPO at the beginning of May, the hype is slowly subsiding.
On Monday, Beyond Meats shares on New York's Nasdaq lost 8.5 percent, and by Friday they had already fallen by almost seven percent. At 141 dollars, however, the price is still more than five times higher than the issue price at the stock market premiere.
Many analysts had already warned in view of the enormous price gains that it will probably not just go up forever.
Beyond Meat with its meat alternatives based on plants continues to be in vogue and is recording rapid sales growth.
The competition's not asleep. Impossible Foods, for example, is another booming specialist supplier that is making a name for itself through a partnership with Burger King. In addition, food giants such as Nestlé and Tyson Foods are entering the market.
Alliances with fast-food giants are always good news for meat replacement manufacturers, but a partnership with the US restaurant chain PizzaRev failed to support Beyond Meat's share price on Monday. Especially as other fast food heavyweights are sceptical - Taco Bell and Shake Shack recently declared not to be interested in Beyond Meat products at the moment./hbr/DP/stk (dpa)
Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.
Other news from the department business & finance
