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.
After seeing the Beyond Meat secondary offer pricing, is now the time to take a bite?
"All right, here's, here's the issue. It's Tesla (TSLA) - Get Report , it's Tesla. I and I would want to wait to see if Impossible is also Tesla. Tesla's unique. If you have two burger companies, it may dilute things. We've got to see. Now, remember, Impossible is GMO. All right. And I think the millennials don't like GMOs. But what'll happen is we got to see whether it's a squeeze, how much is the squeeze and how much is real. We don't want it to be Tilray (TLRY) - Get Report . We don't want it to be Fitbit (FIT) - Get Report . We don't want it to be GoPro (GPRO) - Get Report . And it might be. So if it's those, it'll really annihilate people to buy it," said Cramer.
So what should investors do? Cramer advises you to wait 10 days.
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