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Jim Cramer: Will Beyond Meat Become the Next Fitbit or GoPro?

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Real Money Stock of the Day Beyond Meat (BYND) announced the pricing of its secondary offering.

Beyond Meat will sell 3.25 million new shares at $160 each, an 18.6% discount to Wednesday's close, but six times the IPO price. Beyond Meat said the new share offering will raise another $40 million that the company will use to expand its production facilities and boost its marketing campaign.

"He obviously thinks it's going to grow into this price at one point, but he doesn't want a short squeeze because he doesn't want Tilray (TLRY) ," said Cramer. "So now the question is, is this Fitbit (FIT) where they broke the lock up and then it plummeted because the pipeline ended? Is it a GoPro (GPRO) when the goat was wearing a GoPro on the surfboard when I was in Hawaii? And the stock peaked, and they opened up the lock-up and once the squeeze was ended by the new stock, the stocks just topped and never saw the light of day again. So we want to know, is this Fitbit, is it GoPro or is it a legitimate growth stock that just happens to be kind of overvalued right now?"

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