SELL ALERT: Beyond Meat
20th June 2019 |
Action to take: sell Beyond Meat
Price when recommended: $79.17
Current price: $170
Profit: 113%
Del Taco announced yesterday that its Beyond Meat Taco was one of the best product launches in the chain’s history. It sold 2 million in the first month and is planning on introducing a burrito with Beyond Meat’s ground beef alternative. That’s great news but it did not move the price.
The share was up 113.82% in our portfolio at yesterday’s close and all of Wall Street’s analysts are now either neutral or have sell ratings. The long-term story is impressive but the market has been overeager to price it in. I expect the share to potentially halve during a consolidation and I will use that opportunity to reinvest.
Therefore, now is the time to take a profit because it allows us to take advantage of a mini mania and affords us the opportunity to buy again later.
All the best,
Eoin Treacy
Investment Director, Frontier Tech Investor
