Johnson says its trend suggests an upside objective up around $202. Beyond Meat closed Friday at $149.04 and a move to $202 implies nearly a 36% rally from current levels.
"I'd still rather be a buyer of the stock, and I think in environments like this, too, trying to sell stocks from a valuation perspective when interest rates are this low, I think is a very difficult argument to make especially in momentum-type stocks," said Johnson. Beyond Meat may have benefited during the pandemic lockdowns, says Steve Chiavarone, portfolio manager at Federated Hermes.
"You've seen packaged food companies like Beyond Meat and others do really well during this pandemic as part of the overall stay-at-home trade. I don't think it hurt that people were stuck during the summer grilling season which certainly helps their product," Chiavarone said during the same "Trading Nation" segment.
Like JPMorgan, Chiavarone does see a longer-term path forward for Beyond with consumers shifting toward plant-based diets.
Chemical burgers .. a product Monsanto can get behind.
Why are plant based meats so pricy, they are vegetables.
Fuck JP Morgan
ponzi bank dumps XYZ stock but gets ready to pump again when enough idiots have sold to trigger the algorithmic spot buys. cartels are great for markets! even better when they are government approved! jamie dimon! he’s our man! if he wants money, manipulation we can! bitcoin
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