FIRST AIRED: June 11, 2019

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00:00:00
shares of beyond meat were put through the grinder Tuesday the stock plunged twenty percent wiping out two point four billion dollars in market value and the biggest one day fall says the stock stage the most successful market debut of the year I'm calling games outside of the nasdaq market site where shares of beyond meat are traded now this make alternative company has been nothing short of a Wall Street Darling surging more than four hundred percent physician may debut now that caught the attention of JP Morgan one of the lead bankers that brought the be on me I appeal to market the research team there says that it believes the meat less craze on Wall Street has gone too far too fast the stock downgraded to neutral from overweight the analysts basically advising investors not to buy or sell believing future risks and rewards are now even while beyond meat is facing increased competition from other plant based meet newcomers like impossible meat and the threat giant food companies like Tyson foods and Nestle will come in and eat it sludge company wowed investors last week by predicting sales will more than double this year it's seeing a continued jump in demand from supermarkets and restaurants looking to respond to rising consumer desire for meat alternatives though it is still losing money last week Goldman Sachs tell clients potential revenue and profits well already priced into the stock of all the analysts covering beyond meat all except one have hold ratings on the stock