Beyond Meat’s sales are soaring, but its investors are nervous.
Beyond Meat Inc (BYND) saw shares sink on Monday on plans for another stock offering just three months after its IPO while demand for its plant-based burgers and sausages soared in the second quarter and prompted an increase in its full-year sales forecast.
Trading was volatile and shares fell more than 12% after hours on news of selling 3.25 million shares of common stock — 3 million from stockholders and 250,000 from the company. With the money it raises, Beyond Meat plans to boost its production and supply capabilities, pay for marketing and more.
That move also lowers the value of each stockholder’s share.
The sale seemed to disappoint investors, with shares falling about 12% in after-hours trading. Still, the stock price has grown significantly since it started trading publicly in May.
Beyond Meat SHORT (Sell)
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