Beyond Meat just fell more than 20% after lockup expiration — Jim Cramer and three other experts weigh in $BYND (via TradingNation)
The company's shares tanked on Tuesday after it warned of competitors entering the alternative meat space and a lockup period expired. The stock also failed to get a boost from a 250% increase in revenue and a turn to profitability.
"The consumer is looking for something new from somebody new. I think it's very hard for an incumbent to focus the way we do, to move as quickly as we do. We're very aggressive here in the United States, we're aggressive in the EU [and] we're aggressive in Asia. We have a single goal, we're not competing among different interests. So, my view is that as more entrants get into the market or raise awareness, we'll continue to lead it.
Steve Grasso of "Fast Money" said Beyond's success is in the lifestyle behind the product, not its health benefits. Dan Nathan of Risk Reversal Advisors said that while some cashed out after the lockup, the company is still doing well.
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