Beyond Meat Stock Drops Below $100 Again – Here’s Why
Beyond Meat stock (NASDAQ: BYND) has dropped below $100 recently after the company reported a bleak outlook for Q3 2021. The stock has dropped more than 2% in the last one month. If you look at the stock movement over the past one year, BYND stock dropped below $100 for the first time toward the end of Oct 2021 in the last one year. (The last time it fell to below $100 was when the pandemic first struck in early 2020.) This recent drop was after the company reduced its third-quarter net revenue outlook in its recent release. Beyond Meat now expects revenue of roughly $106 million, up around 12% year over year. This is much lower compared to the previous guidance of $120 million to $140 million, or growth of 27% to 48% year over year, which the company provided just less than three months ago. This marks a sharp deceleration from the company’s recent growth rate. To put this into perspective, net revenue grew 32% y-o-y in Q2 2021. Beyond Meat cited a number of factors as possible contributors, including the impact of the Covid-19 delta variant on demand. The company also said order volume from a Canadian distributor slumped for longer than expected, incremental orders never materialized after a big customer changed distributors, and a delayed expansion driven by labor shortages, among other challenges.
Now, is BYND stock set to drop further or could we expect some recovery? We believe that there is only a 34% chance of a rise in BYND stock over the next month (21 trading days) based on our machine learning analysis of trends in the stock price over the last two and a half years. See our analysis on BYND Stock Chance of Rise. To see how Beyond Meat stands in comparison to its peers, check our analysis on Beyond Meat vs Bunge.
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- Can Beyond Meat Stock Rebound After A 46% Drop This Year?
- Will Beyond Meat Stock See Further Declines?
Twenty-One Day: BYND -2.3%, vs. S&P500 7.1%; Underperformed market
(52% likelihood event; 34% probability of rise over next 21 days)
- BYND stock decreased 2.3% the last twenty-one trading days (one month), compared to a broader market (S&P500) rise of 7.1%
- A change of -2.3% or more over twenty-one trading days is a 52% likelihood event, which has occurred 319 times out of 615 in the last two and a half years
- Of these 319 instances, the stock has seen a positive movement over the next twenty-one trading days on 110 occasions
- This points to a 34% probability for the stock rising over the next twenty-one trading days
Ten Day: BYND 2.4%, vs. S&P500 2.9%; Underperformed market
(37% likelihood event; 52% probability of rise over next 10 days)
- BYND stock increased 2.4% over the last ten trading days (two weeks), compared to broader market (S&P500) rise of 2.9%
- A change of 2.4% or more over ten trading days is a 37% likelihood event, which has occurred 233 times out of 626 in the last two and half years
- Of these 233 instances, the stock has seen a positive movement over the next ten trading days on 121 occasions
- This points to a 52% probability for the stock rising over the next ten trading days
Five Day: BYND -1.3%, vs. S&P500 1.9%; Underperformed market
(46% likelihood event; 50% probability of rise over next five days)
- BYND stock decreased 1.3% over a five-day trading period ending 11/08/2021, compared to the broader market (S&P500) rise of 1.9%
- A change of -1.3% or more over five trading days (one week) is a 46% likelihood event, which has occurred 291 times out of 631 in the last two and half years
- Of these 291 instances, the stock has seen a positive movement over the next five trading days on 146 occasions
- This points to a 50% probability for the stock rising over the next five trading days
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