Posted 2/28/2024, 8:19:00 PM
Beyond Meat Plunges on Q4 Miss, Vows Renewed Path to Profitability Despite Analyst Skepticism
- Beyond Meat posted disappointing Q4 2022 results, missing earnings estimates by a wide margin and reporting declining revenue and widening losses
- BYND stock spiked over 70% after the CEO promised changes towards profitability, including raising prices and cutting costs
- Analysts are skeptical about the potential for cost-cutting to lead to profitability given declining sales and early adopter saturation
- Most analysts rate BYND stock as a Moderate Sell or Hold due to concerns about financial health
- The text concludes that after the short squeeze euphoria wears off, BYND stock is vulnerable to a pullback