Beyond Meat is Real Money's Stock of the day
Shares of the alternative meat company were up roughly 600% from their IPO price before catching a brutal downgrade to Neutral from analysts at JPMorgan this morning, who currently have a $121 target on the stock.
Beyond does have an impressive growth rate, reflected in its first quarterly report, with revenues reportedly surging nearly 215%. However, at some point valuation matters and at a $10 billion market cap on about $40 million in quarterly revenues, that point is now.
Additionally investors will want to keep in mind that there is not much here in terms of proprietary methods and the competition is fierce with Impossible Foods expected to IPO at some point in the future and food industry juggernaut Nestle pushing into the space with it's own "Awesome Burger."
Get over to Real Money for a deeper look at the JP Morgan downgrade, competition in the space, the Tesla-esque short selling on the stock, and more.