Beyond Meat’s stock shot up 840% after going public on May 2! But with the giant early gains in Beyond Meat behind us, the question now is: Does the stock have staying power? Should you buy it now? Let me explain why the answer is NO.
Its innovative “plant-based meat” is found in the frozen food section of thousands of grocery stores. Carl’s Jr., Del Taco, and a few other restaurant chains sell its products, too.
But with the giant early gains in Beyond Meat behind us, the question now is: Does the stock have staying power? Should you buy it now?LaCroix is a popular brand of flavored sparkling water.It tastes pretty good, but it’s nothing special. There are plenty of sparkling water brands that are just as good.Like Beyond Meat, people thought it was the “next big thing.” Investors loaded up on shares of National Beverage —the parent company that owns LaCroix.It was madness.
It’s true that Beyond Meat introduced plant-based meat to the masses. But let’s not forget that plant-based meat is a basic consumer good. It’s a commodity that can be easily replicated. This will force Beyond Meat to either cut prices or surrender market share. Both would be bad for investors.It trades at a price-to-sales ratio of 87. Investors are paying $87 for every $1 that Beyond Meat generates in sales.Tyson trades at a P/S of 0.73. Conagra Brands trades at 1.5X times sales. And General Mills trades at 0.4X sales.
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