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Beyond Meat shares tank ahead of earnings even though traders are expecting a beat

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Beyond Meat shares plummet as much as 13% ahead of earnings report

Beyond Meat Inc. shares BYND, -4.12% fell sharply Monday, ahead of the company's second-quarter earnings expected after the bell, even though hopes for the plant-based meat supplier remain high. "Investor sentiment going into the company's earnings release has 52% expecting an earnings beat," according to Earnings Whispers, a site that gathers real-time estimates for earnings from traders.

The FactSet consensus is for a loss per share of 9 cents and revenue of $52.5 million. Both would be an improvement on the company's first-quarter earnings posted on June 6, when the company said it had a loss of 14 cents and revenue of $40.2 million. Beyond Meat stock has been on a tear since it went public in May at $25. The stock was last quoted at $205, more than eight times its IPO price. The stock was down almost 14% heading into the earnings release.

 

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Rock_Rogers Meat schlapt with a big round steak

Shorting the motherfucker

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