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Beyond Meat Is ‘Beyond Stupid,’ Citron Research Says

Published 05/17/2019, 02:04 PM
Updated 05/17/2019, 02:19 PM
© Reuters.

Investing.com - Noted short-selling firm Citron Research called red-hot stock Beyond Meat’s valuation “Beyond Stupid” in a Tweet Friday.

But shares, which set an all-time high this week of $96.60 after recently being priced at just $25 for its IPO, pared losses shortly after the tweet came out.

Beyond Meat (NASDAQ:BYND) was down about 6% around the time of the tweet and was down 5.13% at 2:14 p.m. ET (21:15 GMT)

Beyond Meat is the most heavily stock traded on Robinhood and now has a market cap bigger than its industry, Citron said.

It also has a “superior competitor” eventually going public in Impossible Foods, Citron added.

Citron said it expects the stock to retreat to $65 on earnings.

Latest comments

Time to buy bynd . Impossible full of gmo . Not healthy
he is always right. just sometimes it takes some time like NVDA
Whatever, Left. Just keep shorting SHOP. Made thousands betting against your prognostication.
sounds like someone's short is getting burned hard.
True
agree 100%
Totally agree.
yep. good time to short the market
Nothing to do with the tweet. The entire market is down. Systemic risk affects eveyrything
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