Is Beyond Meat the Next Great Meme Stock? This Week's Performance Hints That the Party Could Be Over

Beyond Meat (NASDAQ: BYND) might be plant-based, but it's given investors plenty of indigestion over the past few weeks.The stock plunged the week of Oct. 13 as the company made a tender offer for $1.1 billion in convertible debt, signaling that it was about to massively dilute existing shareholders. On Oct. 16, it completed the tender offer, saying it had created 316 million new shares, essentially growing shares outstanding by nearly 5x. From Oct. 10 to Oct. 16, the stock lost 74% to close at $0.52 on extraordinarily high volume, showing that the tender offer seemed to spook investors. The company was likely desperate to eliminate the debt, even though it would dilute shareholders several times over, making the odds of a comeback even longer. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool