Hype about vegan burgers: Beyond Meat bites the stock market: Beyond Meat shares burst after strong numbers | message

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After celebrating the debut in the New York stock market at the beginning of May with the coveted vegan hamburgers, the Californian company published its first annual report.

Beyond Meat increased sales in the first quarter by a whopping 215% to 40.2 million dollars (35.6 million euros), as announced by the company on Thursday after the US market closed. Although the loss increased by just under 16 percent to 6.6 million dollars, the results still exceeded analysts' expectations and were brought to the market almost euphorically.

Beyond Meat produces meat-based alternatives to meat – animal ingredients are strictly taboo. The company, which was founded in 2009 in El Segundo, California, is therefore very popular. Especially with vegan burgers, which are sold in Germany at the wholesale subway chain and more recently also at the Lidl discount store, Beyond Meat sparked a real uproar.

An even greater feeling is the producer of replacement meat on the capital market. Beyond Meat went to the Nasdaq technology exchange in New York in early May, one of the most successful firsts in recent years. The assault on the shares has not gone awry so far, the course has recently been more than 300% compared to the issue price.

The company, celebrities like the co-founder of Microsoft Bill Gates or the Hollywood star Leonardo DiCaprio has as investors and supporters on board, has had around 240 million dollars and was therefore valued at almost 1.5 billion dollars (1.3 billion euros). By comparison, Beyond Meat has reached a market value of over $ 5.7 billion.

Although financial professionals warn of shutdowns in light of the rapid rally in prices, at least the end of strong sales growth does not seem to be in sight. For the current fiscal year, Beyond Meat was confident in the quarterly report and promised $ 210 million in revenue. This would be 140 percent more than in 2018. In addition, management expects to achieve profitability before interest, taxes and depreciation.

The numbers further fueled the dismissal of prices: in the US pre-market trade, the stock rose Friday at times by 29%. In the first official exchanges, the shares increased by 26.43% to $ 125.22. At the end of trading, the share price rose 39.35% to $ 138.65.

EL SEGUNDO (dpa-AFX)

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