You can tell Beyond Meat is a bubble stock because the average share in the company changes hands almost every single day, says BrettArends. 'No, I'm not kidding.'
The “fake meat” company, whose annual sales were less than $100 million in 2018, has just skyrocketed to a $10 billion market valuation. That’s 50% more than the valuation of burger chain Wendy’s WEN, -0.33% and more than five times that of Shake Shack SHAK, +0.74% the last burger company that was somehow going to make everybody rich.
Beyond Meat, a company that makes “fake meat” veggie burgers, is just the latest, hottest ticket on the Street. It’s a stock for trading. But if we are to take the current stock price seriously, Wall Street is making absolutely amazing predictions about this company. Apparently it will be able to fight off competition from rivals indefinitely.
Apparently there are no giant companies in the hamburger business that can come up with better, cheaper products of their own and put these guys out of business. Massive hamburger companies with great, direct access to hundreds of millions of consumers? Nah, can’t think of any. Apparently there isn’t a global glut in the kind of agricultural products you use to make these things.
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