What’s Behind The Recent Surge In Beyond Meat Stock?

- Advertisement -


- Advertisement -

beyond meat stock (NASDAQ:BYND) gained 13% over the past week, outperforming the S&P 500, which was down 1.6% during the period. If you look at the change over the past ten days and one month, BYND stock has risen (4.6% and 7.5%) and outperformed the broader market on both occasions. BYND’s stock soared after the company announced that its Beyond Italian Sausage Crumbles were now available in three dishes on Yum’s menu! Brands’ Pizza Hut restaurant in Canada. Canada is the second Pizza Hut market to offer Beyond Meat ingredients. The company’s Beyond Meat pizzas are now a permanent menu item in the UK following a pilot program launched in 2021. Additionally, Beyond Meat released its chicken option at Yum! Brands KFC. Privately held Panda Express and A&W Canada have also released menu items with Beyond Fried Chicken. Beyond Meat generates most of its revenue from beef-alternative products. So rapidly diversifying its revenue away from beef-alternative products is likely to help the company.

Now, is BYND stock going to rise further or can we expect some correction? We believe BYND stock has a 44% chance of growth in the next month (21 trading days) based on our machine learning analysis of trends in stock price over the past three years. View our analysis BYND stock likely to rise, we guess Beyond Meat Valuation About $75 per share which is 12% higher than the current market price. This represents a P/EBITDA multiplier of 115x for the company based on our forecast Beyond Meat’s EBITDA for the current financial year.

Twenty One Days: BYND 7.5%, vs. S&P500 -0.2%; best performing market

(30% chance event; 44% chance of increase in the next 21 days)

  • BYND stock 7.5% increase Over the past twenty one trading days (one month), a decline of 0.2% compared to the broader market (S&P500)
  • A change of 7.5% or more in twenty-one trading days is a 30% probability event, having occurred 196 times out of 658 in the past three years.
  • Out of these 196 instances, the stock has seen positive momentum on 86 occasions over the next twenty-one trading days.
  • it indicates a 44% chance of the stock rising in the next twenty one trading days

Day 10: BYND 4.6%, versus S&P500 -1.5%; best performing market

(28% chance event; 54% chance of increase in the next 10 days)

  • BYND stock increased by 4.6% In the last ten trading days (two weeks), a decline of 1.5% compared to the broader market (S&P500)
  • A change of 4.6% or more in ten trading days is a 28% probability event, having happened 188 times out of 669 in the past three years.
  • Out of these 188 instances, the stock has seen positive momentum on 101 occasions over the next ten trading days.
  • it indicates a 54% chance of the stock rising in the next ten trading days

Day Five: BYND 13%, versus the S&P500 -1.6%; best performing market

(12% chance event; 54% chance of increase over the next five days)

  • BYND stock increased by 13% in the five-day trading period ended 01/11/2021, compared to a 1.6% decline in the broader market (S&P500)
  • A change of 13% or more in five trading days (one week) is a 12% probability event, having occurred 78 out of 674 times over the past three years.
  • Out of these 78 examples, the stock has seen positive momentum on 42 occasions over the next five trading days.
  • it indicates a 54% chance for the stock to rise in the next five trading days

What if you’re looking for a more balanced portfolio instead? here is one high quality portfolio It has consistently outperformed the market since the end of 2016.

invest with traffic Market Beating Portfolio

see all traffic price estimate

,

- Advertisement -

Stay on top - Get the daily news in your inbox

DMCA / Correction Notice

Recent Articles

Related Stories

Stay on top - Get the daily news in your inbox