One company that hardly anyone had ever heard of in April but is the talk of the town today is, of course, Beyond Meat.
The company only debuted on May 2nd, yet it is already up 600% from its offering price. It has, in my opinion, and awesome name, a great story, and immediate appeal. You could probably convince a stranger in an elevator to buy the stock before you got to your floor. It’s the ultimate “story stock”, and it has the volume to back up that notion.
I’ve got another red-hot IPO to share with you, which likewise has a terrific story behind it. Hundreds of percent gains! Whoopee!
You guessed it………..Frank Stallone. No, no. it’s Tilray. I’ve helpfully circled in red precisely the point when volume peaked and everyone wanted to get in on those sweet, sweet marijuana profits.
Beyond Meat could be the next Amazon. Or the next Tilray. Just so little history behind it, it’s dangerous to assume either one.