Beyond Meat, Inc. (NASDAQ:BYND) is the hottest new IPO and it had an amazing start in the first day of trading on the NASDAQ. On day one, the stock rose a whopping 163% as it closed at $65.75. It’s a big leap from the $25 that the IPO was priced at even when the stock opened at $46, it had already nearly doubled in value.
It’s proof that it’s not just tech stocks that can capture the excitement from investors. However, given the potential that Beyond Meat has in the market and in restaurants and households around the world looking for healthier meal options, it’s easy to see why investors would be excited for the potential that the stock holds. It also helps that the company has some big names backing it, including Bill Gates and Leonardo DiCaprio.
While there is a lot of hype behind the stock, there is as lot of potential for the company as well. There have been rave reviews for Beyond Meat’s products and demand is likely to be very strong. The key will be how many restaurants and companies will become customers of Beyond Meat as that will help grow the brand around the world.
However, it won’t be without challenges as there is some competition in the space already. Impossible Burgers also makes meatless burgers and Neste SA also has the Incredible Burger, both of which could pose formidable threats to Beyond Meat. However, with some big backers and a lot of name recognition already, Beyond Meat has the early advantage. The big question is how long it will last.
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