Beyond Meat and Beyond

The stock markets are tired of unicorns. They are punishing them. The only bright spot is Beyond Meat (BYND) which has also taken a beating.

Here is what a stock that came out at $25/sh and immediately traded up from an indicated market cap of $1.3B to a cap of $13B ($234.90 on 7-26-2019) looks like. That’s a 859% run up.

Since then the stock price has settled to a level of $81.18 — still a nice premium from the IPO price, but a return of more than 2/3rd of its initial run up.

The fate of stocks like Uber and Lyft — the “no profit unicorns” has been even more bloody with values below the IPO price.

Bottom line it, Big Red Car

The markets have finally realized that the Emperor has no clothes.

But, hey, I could be wrong.

What the Hell do I really know anyway? I’m just a Big Red Car.