Beyond Meat: The New Tesla?
Rodney Johnson | June 11, 2019 | I haven't tried a Beyond Meat (Nasdaq: BYND) burger, but I want to. With all the hype surrounding the company, and restaurants adding it onto their menus, it just seems logical to give it a test run. What's the worst that could happen, I waste $7 and never do it again? My wife isn't convinced. A plant-based burger? Why, when all-beef burgers are as tasty as they are? She calls the plant-based versions "Frankenburgers." There are lots of reasons to opt out of beef, of course, from ethical concerns about the treatment of farm animals and eating meat in general to the amount of resources required to raise a cow. But still… we're in Texas, where beef is king, barbeque is sacred, and meat remains dang tasty. I'm also interested in Beyond Meat for another reason – I desperately want to short the stock, or find another way to bet on its shares falling back to earth. The company is so far overvalued that it makes Tesla (Nasdaq: TSLA) and Uber (Nasdaq: UBER) look like value plays. Beyond Meat went public at $25 at the beginning of May, less than 45 days ago. On the first day of trading it shot up more than 150%. By the time the company announced earnings, about a month later on June 6, the shares were up 300%. Two days after earnings on Monday, June 10, the shares had pushed through $180, up 620% from the IPO price. Roughly speaking, that gives the shares an annualized gain of 7,400%. But Beyond Meat reminds me of Ben Franklin's remarks when asked what he'd wrought during the Constitutional Convention. He responded, "A Republic, if you can keep it." Beyond Meat is the financial markets' model of a true blockbuster stock – if they can keep it up. This darling company has generated incredible buzz with its PR machine, well-timed IPO that matches up with environmental concerns, the need of investors to find the next big thing for returns, and a conference call that left analysts and investors positively giddy. So can they keep it up? Not a chance. READ MORE » | Brand-New: Ex-Wall Street Lawyer Commits Career Suicide? 
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