News dropped today that Beyond Meat will be teaming up with Taco Bell to create new menu items, and investors pounced. BYND shares soared more than 13% after the official announcement of the Beyond Meat and Taco Bell deal.
Are you thinking about jumping on this opportunity too?
Should you pay attention to the Beyond Meat and Taco Bell deal and grab some stock while the news is still sizzling?
We call BS on Beyond Meat Inc. (Nasdaq: BYND).
Now don’t get us wrong, we love a good vegetarian alternative meat. We’ve had our fair share of Beyond Meat, the Impossible Burger, mushroom burgers and everything else under the sun.
We also understand that there’s a large and growing population of people looking for high-quality meat alternatives.
And that’s the rub: With so many meat alternative competitors that actually taste good, there’s no reason for BYND stock to rise more than $150 a share, even on news of a Beyond Meat and Taco Bell deal. Maybe it’s just us, but with so many alternative meat varieties on the market now, the stock has lost its “darling” status.
Do you remember back in 2019 when there were whispers that McDonald’s was going to start carrying Beyond Meat products? Investors ate up the news (pun intended) and sent the stock up more than 11%.
It’s 2021 now. Does the McDonald’s closest to you carry any Beyond Meat products? Ours doesn’t.
That’s because McDonalds announced last November it was working on its own plant-based burger, sinking BYND stock more than 25%.
And the same thing might happen with the Beyond Meat and Taco Bell deal.
Watch the video below to see why history could repeat itself and the other reasons why BYND may not be worth the buy. What do you think about the Beyond Meat and Taco Bell deal? Have you ever traded BYND stock before? If so, how was the experience? Let us know in the comment section below!