BYND stock is down in double-digits Thursday, despite the plant-based meat substitutes company staying quiet. Sometimes this happens for no reason. But this time, people are speculating what caused the nearly 15% drop. And what they’ve come up with sounds pretty reasonable.
Here’s what people are saying about Beyond Meat (NASDAQ:BYND).
BYND Stock Takes a Cold Plunge
According to Yahoo Finance, BYND stock is trading at $141.51, which puts BYND stock down 13.13%. And what’s interesting is that the company has not released any news.
Based on what the market is saying, many speculate Beyond Meat is performing the way it is Thursday because of yesterday’s filing to go public by WeWork. With the WeWork IPO being the second-biggest of the year—it has a valuation of nearly $50 billion—those who struck gold with the Beyond Meat IPO might be thinking of putting that newly earned money into WeWork’s basket. And instead of trickling down to Beyond Meat, this might affect its business.
Some people are also worried about BYND stock overall, as after it hit an all-time high, the stock dropped almost 40% after announcing a secondary offering.
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The Future is Unclear
The market may be worried about the future of Beyond Meat, especially today, but there’s one fact that remains: Beyond Meat is still a valued company, and it continues to receive positive coverage from the media. In 2019, media coverage plays a crucial role in the success of a company, so Beyond Meat must be doing something right.
It is possible BYND stock could close the week trading in the green. Today may be a one-off. What do you think, though? Do you think it’s an indication that investors are worried about the stock?
Further, moving forward, investors should keep an eye on Beyond Meat, especially as we approach the month of October, which is when BYND’s IPO lockup period expires. This could either cause the stock to fly, or plunge drastically.
Featured image: PixaBay
