{"id":503,"date":"2019-07-24T08:16:00","date_gmt":"2019-07-24T08:16:00","guid":{"rendered":"https:\/\/tonyoz.com\/?p=503"},"modified":"2021-05-10T08:23:19","modified_gmt":"2021-05-10T08:23:19","slug":"beyond-meat-up-840-in-13-weeks-beyond-impressive","status":"publish","type":"post","link":"https:\/\/tonyoz.com\/beyond-meat-up-840-in-13-weeks-beyond-impressive\/","title":{"rendered":"Beyond Meat up 840% in 13 Weeks &#8211; Beyond Impressive!"},"content":{"rendered":"\n<p>Set to report earnings on Monday, Beyond Meat stock closed at $234.90. Shareholders enjoy a 9.4 multiple of the $25 IPO price from 5\/2\/2019. \u201cKudos\u201d to the underwriters who completely dropped the ball on this offering. Lead Underwriters Goldman Sachs, Credit Suisse, and J.P. Morgan issued $67, $70, and $97 price targets respectively in May. A week later, Credit Suisse and J.P. Morgan increased the target to $125 and $120 respectively.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"720\" height=\"720\" src=\"https:\/\/tonyoz.com\/wp-content\/uploads\/2021\/05\/Beyond-Meat-Up-840.png\" alt=\"Beyond Meat Up 840%\" class=\"wp-image-505\" srcset=\"https:\/\/tonyoz.com\/wp-content\/uploads\/2021\/05\/Beyond-Meat-Up-840.png 720w, https:\/\/tonyoz.com\/wp-content\/uploads\/2021\/05\/Beyond-Meat-Up-840-300x300.png 300w, https:\/\/tonyoz.com\/wp-content\/uploads\/2021\/05\/Beyond-Meat-Up-840-150x150.png 150w\" sizes=\"(max-width: 720px) 100vw, 720px\" \/><\/figure><\/div>\n\n\n\n<p>Underwriters Merrill Lynch and Jefferies initially set price target at $85 on 5\/28 and raised it to $101 and $105 on June 7. Yet, the company received only $25.<\/p>\n\n\n\n<p>With BYND trading at 234.90 just 13 weeks after the IPO, I can\u2019t stop thinking about the complete MISS for the company which received only $25 per share.<\/p>\n\n\n\n<p>Speculators continue to place bearish bets on Beyond Meat. The at-the-money put-call parity, which should be priced at $0 for most stocks, is currently at $31.95 credit for September 20th (as seen in the picture). This means that speculators are willing to pay $31.95 to give someone the right to buy BYND from them on September 20 for $235 as long as they will give the speculators the right to sell it at $235 as well (Synthetic long\/short position).<\/p>\n\n\n\n<p>If I could ask Ethan Brown, the CEO of Beyond Meat a question, I would ask him the reason the IPO was priced so low (10.63 cents-on-the-dollar it is trading for now). How did the underwriters completely miss the demand for your stock? Interesting times ahead of us. Especially when the 180-day lockup expires.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Set to report earnings on Monday, Beyond Meat stock closed at $234.90. Shareholders enjoy a 9.4 multiple of the $25 IPO price from 5\/2\/2019. \u201cKudos\u201d to the underwriters who completely dropped the ball on this offering. Lead Underwriters Goldman Sachs, Credit Suisse, and J.P. Morgan issued $67, $70, and $97 price targets respectively in May. A week later, Credit Suisse and J.P. Morgan increased&#8230;<\/p>\n","protected":false},"author":1,"featured_media":505,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_kad_post_transparent":"","_kad_post_title":"","_kad_post_layout":"","_kad_post_sidebar_id":"","_kad_post_content_style":"","_kad_post_vertical_padding":"","_kad_post_feature":"","_kad_post_feature_position":"","_kad_post_header":false,"_kad_post_footer":false,"footnotes":""},"categories":[8,9],"tags":[],"_links":{"self":[{"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/posts\/503"}],"collection":[{"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/comments?post=503"}],"version-history":[{"count":0,"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/posts\/503\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/media\/505"}],"wp:attachment":[{"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/media?parent=503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/categories?post=503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tonyoz.com\/wp-json\/wp\/v2\/tags?post=503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}