Source: Benzinga Feeds
Beyond Meat Inc’s (NASDAQ: BYND ) stock has downside potential of more than 30%, Wells Fargo analyst John Baumgartner said Thursday in a CNBC interview . Beyond Meat’s stock recently moved north of $100 per share amid three favorable news reports, Baumgartner said. They are: Beyond Meat’s chief rival Beyond Food confirmed it won’t pursue a deal with McDonald’s Corp (NYSE: MCD ). Beyond expanded its “PLT” sandwich tests with McDonald’s Canada. Talk of a potential expansion into China. These encouraging reports may have triggered a “fair amount” of short squeezing in the stock , the analyst said. Beyond Meat’s products in Canadian restaurants are performing better in urban areas, but the “geographic appeal is … Full story available on Benzinga.com
Leave a Reply