It feels like Beyond Meat (NASDAQ: BYND at https://www.webull.com/quote/nasdaq-bynd) recently broke the “bubble.” At both times shares have been sharply corrected. Yet I think this bearish feeling is unjustified. Let’s delve into the following in my due diligence.
Only a short history of the firm. A vegetable meat food business is above meat. The enterprise has a limited line of brands, the ‘Beyond Burger’ being the most popular. The Beyond Burger has been engineered to imitate the taste and sound of real meat and is one of the first 100% seed burger in the world.
Bigger TAM outside meat than you thought.
The corporation plans to disrupt the worldwide meat market by 1,4 trillion dollars. However, it is not practical, at least in the short to medium term that the sector is really an addressable business.
First, there are the people who are still available to vegetable meat. The worldwide meat market currently stands at 20.7 billion dollars and could rise to 23.2 billion dollars by 2024. In 2027, some expectations have increased this demand by $35.5 billion.
Competitors benefit
If this conversion method can be implemented, there is a lot upside for the business. There is reason to believe that Beyond (NASDAQ: BYND), due to its brand awareness, will catch much of this development. Beyond beef is almost synonymous with “plant meat,” and is one of the first big movers of the genre along with Impossible Foods (IMPF).
A consumer research has shown that Outside Meat has 39 per cent of second highest-aided brand recognition (surprisingly beaten by MorningStar farms which got first place). Impossible Food came third with market recognition supported by 27 percent.
Objective
Beyond Meat is the best-selling plant meat brand in the cooled segment of food stores according to the company. With its continuing growth, the firm is widening its retail locations to distribute its other non-burger brands. In 2413 new shops and 1700 new shops Outside Meatballs will be open.
Presentation of investors
Beyond Meat has recently confirmed that McDonald’s would be in strategic alliance (MCD). In the next “McPlant” burger, outside Meat will be the national patty provider. This is an enormous win, given that McDonald’s is perhaps one of the best restaurants in the world with more than 39,000 sites around the world. NASDAQ: BYND have also formed a relationship in recent years to place Beyond Meat items in stores such as KFC, Pizza Hut and Taco Bell.
Assessment
Looking at the recent full-year earnings of the firm, you will see that the company shoots all cylinders. Net revenue rose from 297.9 million dollars to 406.8 million dollars by 36.6% in 2020. This is mostly attributed to an expansion in the supply channels as the goods of the firm have been wider. There are many other stocks such as nasdaq goev which you can check at https://www.webull.com/quote/nasdaq-goev.