Beyond Meat is more like Tilray and less like Tesla, says TheAroraReport:
Beyond Meat’s stock is flying high. And I have been getting more emails on this stock than any other. A good way to think about this stock is to ask the question: “Is Beyond Meat like Tilray or Tesla?”The chart Please click here for an annotated chart of Tilray TLRY, +0.30%. Tilray was the favorite stock of the momo crowd, just like Beyond Meat BYND, -12.32% is now. Please note the following:
• Tilray did a secondary offering to take advantage of the high stock price, just like Beyond Meat is doing now. • Tilray’s stock would rise on news of partnerships, just like Beyond Meat’s climbs on news of partnerships. • During the rise, Tilray saw no real material smart money buying the stock. So far, algorithms at The Arora Report have not detected any real material smart money buying in Beyond Meat.
Differences from Tesla Some bulls are expecting Beyond Meat’s stock to behave like Tesla’s TSLA, +2.75%. From a technical perspective, there is no validity to such a contention.1. Tesla was going in the direction of major trends of a cleaner environment and attempts at stopping global warming. 5. For startups, entering the electric-car business is difficult because it is highly capital-intensive. In contrast, entering the fake-meat business is not capital-intensive.
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