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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
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Tuesday, September 20, 2022

BYND: Don't Mess With Vegetarians! 😕

* See UPDATE below...

After a face-ripping spike to its all time high of 239.71 three months after its IPO in May of 2019, Beyond Meat Inc. (BYND) has done an about-face ever since...falling well below its IPO price of 46.00 to 16.45 (as I write this early Tuesday afternoon), as shown on the following monthly chart...and around a 90% drop from its high.

It looks like people still like real meat...instead of plant-based meat...even during the current period of 40-year high inflation. 

Until that changes, we may see price eventually reach zero.

And, from the following report, it looks like it's not just its price that's been a face-ripper.

I don't imagine this recent incident involving their COO will help their sales very much. 😕

* UPDATE Sept. 26...

It turns out that fake meat is too expensive and unappetizing for 95% of the population...the meat-eaters.

Sounds like this fad was a dud...and a liability for its investors.