Beyond meat inventory, cards over $ 200 trade after hovering 18%
In this illustration, packages of Beyond Meat "The Beyond Burger" are on a table June 13, 2019 in the Brooklyn New York City district.
Drew Angerer | Getty Images
Stocks of Beyond Meat increased as much as 18% in premarket trading on Tuesday, exceeding $ 200 per share.
At the beginning of May, the plant-based meat producer praised its original $ 25 per share offer. Excluding Tuesday's premarket increase, the company's stock has up 579% since IPO, a market value of $ 9.9 billion.
Beyond the stock price, analysts have well over the price targets, the highest of which is $ 1[ads1]23. No one on Wall Street recommends buying the stock anymore because of its hot stretch. The stock has been gyrating as analysts have raised concerns for their monster round and short sellers have taken an interest.
While the market for meat alternatives is growing more crowded as Tyson Foods and Nestle are preparing to launch their own plant-based meat imitations Beyond has expanded and improved its own products.
Shares in Beyond closed up 12% Monday after the company said it would start offering its Beyond Beef – plant-based steak in retail stores. The announcement followed the company's launch of a new "meatier" version of its Beyond Burger in stores last week.
