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.