CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Beyond Meat stock surges despite weak financial outlook

16:58 5 August 2022

Beyond Meat (BYND.US) stock managed to erase heavy pre-market losses and is currently trading nearly 22.0% higher despite the fact that producers of plant-based meat alternatives posted disappointing quarterly results, lowered its annual sales target and announced job cuts due to the impact of inflation. 

  • Company reported wider than expected quarterly loss of $1.53 per, compared to analysts’ estimates of $1.18

  • Revenue fell 1.6% to $147 million, below market expectations of $149.2 million expected.

  • CEO Ethan Brown said on an earnings call that high inflation and more careful spending means consumers are less likely to buy Beyond’s premium plant-based meat. 

  • For the current fiscal year, the firm now expects revenue of $470 million to $520 million, down from its prior forecast of $560 million to $620 million. 

  • Beyond plans to lay off about 4% of its total workforce, or about 40 employees in order to save about $8 million annually.

  • Despite economic conditions and rising competitors, the company is working on improving its products' superiority. Brown said the company is focused on products that taste indistinguishable from meat, and cost the same. The current situation, he said, is reinforcing those maxims, especially toward wringing out any additional costs. 

  • Nevertheless analysts are not too optimistic about the company's prospects. According to FactSet only one of the 19 analysts issued bullish recommendations, while about a quarter rated the company stock at Sell or the equivalent.

Beyond Meat (BYND.US) stock has been moving sideways in recent months, however buyers managed to fend off the bears during today's session and price is approaching the upper limit of the consolidation zone. Should break higher occur, the next major target for buyers is located around the upper limit of the bearish price gap at $65.50 which also coincides with 23.6% Fibonacci retracement of the last downward wave. However, today's upward move may turn out to be a temporary phenomenon and in this case another downward impulse towards recent lows may be launched. Source: xStation5

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This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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