ETF PM is now issuing a maximum position buy alert on Beyond Meat (BYND). This means that our initial target allocation ranges from 3% to 10% in our moderate to aggressive growth portfolios.
Certain leading growth companies, such as BYND and Tesla (TSLA), are also considered eco-friendly and may benefit greatly from strong growth in Environmental, Social, and Governance (ESG) investing. In fact, many leading market constituents are working to address these trends including indexing giant MSCI, BlackRock, China, McDonalds, and Starbucks.
Beyond Meat stock climbs 13% as Starbucks plans to add more plant based menu options
Amelia Lucas, 1/21/20
Shares of Beyond Meat jumped 13% in morning trading Tuesday after Starbucks announced that it would add more plant-based menu options as part of its efforts to combat climate change.
Beyond’s stock, which has a market value of $7.3 billion, is on pace for its best month ever, back to its May initial public offering. Shares are up more than 62% so far in January, buoyed by the news of McDonald’s expanding its southwestern Canadian test of Beyond’s veggie burgers.
The stock’s recent run has burned short sellers, who have been betting on Beyond’s share price falling since it soared 163% in its public market debut. Shares hit an all-time high of $239.71 in July, then plunged after the company announced a secondary share offering.
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