Beyond Meat Under Fire for Food Safety Issues in Pennsylvania Plant

The stock is down nearly 80% in 2022

Digital Content Manager
Nov 22, 2022 at 9:22 AM
facebook X logo linkedin

Beyond Meat Inc (NASDAQ:BYND) is under fire after photos and internal documents from the food producer's Pennsylvania plant showed multiple cases of mold, Listeria, and other food safety issues. The document was provided by a former employee, while occurrences of bacteria were confirmed by two other employees who wished to not be names. BYND has lost nearly 80% in 2022.

This morning, however, the stock seems to be brushing off this report, or at least trying to. BYND was last seen up 0.9% at $13.40. The security is coming off a four-day losing streak after its early November rally ran out of steam at the 60-day moving average. Now, BYND is sitting back below all major long- and short-term trendlines once more. 

The security also brushed off an earnings miss earlier this month, thanks to that day's broad-market tailwinds. The report did bring a round of price-target cuts from the brokerage bunch, though. Sentiment has definitely soured on Beyond Meat, as all 11 in coverage consider the equity a "hold" or worse. 

Meanwhile, short sellers are firmly in control. Short interest is up 4.2% in the last two reporting periods, and makes up 40.4% of the stock's available float, or over seven days' worth of pent-up buying power. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI