The Meat Gets Beaten

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I have long puzzled over the enormous market cap of Beyond Meat, particularly since I never see anyone buying the stuff here in oh-so-hip Palo Alto. As I wrote back in July, “There was literally the entire inventory. Three lonely, squished packages tucked away in a forgotten corner of the refrigerated section. I suspect a month ago these three fellas were still in there. In any case, BYND seems to be sputtering. Based on little more than my three-second glance at my local Whole Foods, I’ve got a sneaking suspicion the $8.4 billion valuation of this company is a bit rich.

Judging from after-hours action, I guess its lack of popularity is catching up with the share price:

slopechart BYND