Skip to main content Plummets on Rating Downgrade to Sell

  • Author:
  • Publish date:

After a brief rise this morning,

(BYND) - Get Beyond Meat Inc. Report

was down 20% by early afternoon following a rare downgrade to sell from hold by

Scroll to Continue

TheStreet Recommends

Prudential Securities

. Prudential said it cut the e-commerce company due to concerns about its financing. Although recently secured $40 million in financing, Prudential said the company may not be able to access it if its stock price remains depressed. As a result, it could run out of cash as soon as the first quarter of 2001.