The technical analyst who predicted Beyond Meat-McDonald's tie-up sees this next

Beyond Meat's stock rallied over 12% on the announcement, while McDonald's rose by less than 1%. Beyond Meat shares are up over 519% from the company'sPointing to a correlation between the two stocks, Gordon said last Thursday that he believed "a perpetual bid in Beyond for the possible outlook of a partnership with McDonald's" was creating the connection.

Now, with Beyond Meat's stock holding well above the $145 level that Gordon flagged as key support, he sees even more runway for the public market newcomer. For his call spread, a bullish trade that represents a bet on a stock's moderate increase in price, Gordon bought the November $160 monthly calls and sold the November $170 monthly calls at a net cost of $1.60, or $160 per spread. Beyond Meat would need to rally at least 3% from its Thursday closing level for that trade to pay off.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

McDonald’s to test Beyond Meat-made ‘P.L.T.’ burgerShares Beyond Meat Inc. soared Thursday, after McDonald’s Corp. said it was testing a plant-based burger made by the company in Canada. McDonald’s doesn’t have any meat in their burgers anyway. 😂 Selling op, folks. They are overvalued.
Source: MarketWatch - 🏆 3. / 97 Read more »

McDonald's to test Beyond Meat burger, plant-based company's stock surgesMcDonald&39;s and Beyond Meat finally join forces.
Source: YahooNews - 🏆 380. / 59 Read more »