![]() Last month, Beyond Meat partnered with Los Angeles Lakers to ‘further amplify awareness of delicious plant-based meats that serve both body and planet’. “This is also the first time Beyond Meat is available at a club store talk about a club everyone wants to be a part of.” LA Lakers “Perfect for burger enthusiasts and large gatherings just before the holidays,” Beyond Meat wrote on its website. The company, who debuted on New York’s Nasdaq exchange earlier this year, has launched a four-pack (eight patties) of its meatless Beyond Burger – for $14.99. A move above the range would be bullish, and a move below might be bearish.Plant-based startup Beyond Meat has made its debut at Costco stores across the US*. The stock should drift sideways within this range until the Q2 release, when it will make the next move. The bottom appears to be near $12, with a critical resistance point near $22. Combining short-covering, institutional buying, and analysts' sentiment could fuel a sharp and sustained rally. If the Q2 results are even half-decent, it could shift the sell-side interest. The market is up 5% on the news and showing a bottom. With short interest running about 40%, institutions selling, and analysts reducing the stage is set for a short squeeze. The market wasn’t too bearish on Beyond Meat when its shares were trading near $200, but it is now. This addition makes Beyond Sausage available in more than 15,000 retail locations nationwide. Beyond Sausage recently underwent a reformulation to improve the spice mix and flavor and is also getting good reviews. The company will offer Beyond Burger nationwide and has begun the rollout of Beyond Sausage. The product was already in a handful of chains, including Kroger (NYSE: KR), Walmart (NYSE: WMT), Albertson’s (NYSE: ACI), and Target (NYSE: TGT) and was recently added to Whole Foods (NASDAQ: AMZN), Publix (OTCMKTS: PUSH), Wegman’s and a few others, which will drive top and bottom line strength.Ĭostco is also expanding its offering of Beyond Meat. The product recently won the People Food Awards and is the #1 selling plant-based meat product in the US. The word is that Beyond Steak cooks up crispy on the outside, is juicy, has a good mouthfeel, and tastes meaty. Beyond Meat Expands Product Line Availability In Q2īeyond Meat launched Beyond Steak late in 2022, which is getting good reviews. Based on the momentum in retail channels and strength in Europe, where consumer adoption is much easier, guidance may be increased. Execs reaffirmed guidance last quarter, so that is the least to expect. The company beat consensus by a wide margin last quarter and has made several strides since, so the bias is for outperformance. The analysts have been raising their targets for revenue and earnings since the Q1 report and expect 21% in revenue growth. The YOY comp will be ugly, down double-digits due to the lapping of sales related to failed fast-food launches, but sequential gains should be impressive. The company is expected to report in early August, which may provide a positive catalyst for share prices. The last earnings report included a reduction in cash burn and net losses that should accelerate over the next few quarters. The outlook is for continued operating losses, but significant headway has been made. The question is if the company can turn a profit. Now, the company is making strides that include deepening penetration of markets and expanding product lines that point to sustainable growth. Retail was always a foundational element of the company’s strategy but not a primary focus until last year. ![]() The recovery includes a focus on profitability, a renewed focus on quality and operations, and a shift toward the retail channels. The company’s attempt to enter the mainstream market via fast food was a flop, but the recovery is underway. Beyond Meat (NASDAQ: BYND) deserves its spot among the most shorted stocks on Wall Street, but the story is played. ![]()
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