Beyond Meat BYND 120.58 -5.52 -4.38% meets a touch of rationality. JP Morgan downgraded the stock from Buy to Neutral today sending Beyond down about 20% after a nice rally yesterday. There’s a possible big potential here once the company begins making the right partnerships, but there’s also a decent amount of competition. And don’t forget the last earnings, although beating expectations, still puts their earnings per share at a whopping -$4.68.
The run up after earnings was bolstered by some news from competitor Impossible that Burger King’s in the Bay Area would be selling the Impossible Whopper, a burger made with 0% meat. 111 Burger King restaurants in the greater San Francisco Bay Area are now participating. Burger King announced in April that it plans to make the Impossible Whopper available nationwide, in all of its 7200 branches, by the end of 2019. Of course this is not Beyond Meat’s news, but investors took it as confirmation of the story. Impossible Foods is still a private company with no IPO announcement in the works. But be on the look out! They’ve already got partnerships with Burger King and Little Caesar’s.