Market Overview

Quint Tatro Calls Beyond Meat's Valuation 'Beyond Ridiculous'

Share:
Quint Tatro Calls Beyond Meat's Valuation 'Beyond Ridiculous'

On CNBC's "Trading Nation," Quint Tatro said Beyond Meat Inc (NASDAQ: BYND) is a good product, but from a valuation standpoint it's "beyond ridiculous."

The stock is trading at 100 times sales and 300 times cash, said Tatro. He wonders if the company can keep growing enough to justify the valuation. Tatro compared Beyond Meat with Microsoft Corporation (NASDAQ: MSFT), which is trading at 8 times sales and 8 times cash. He even finds Microsoft's numbers a little bit rich, so he concluded Beyond Meat is a "no-touch."

Matt Maley of Miller Tabak said it's hard to do something with the chart of Beyond Meat because there are only three months of data, but the RSI index suggests it's overbought. It's not as overbought as it was in the middle of May, before the big decline in price, added Maley. He wouldn't buy the stock at its current price level.

Beyond Meat's stock closed Thursday higher by 9.8% at $222.86. The stock opened for trading on May 2 at $46 and closed that day at $65.75.

Related Links:

Beyond Meat Partners With Dunkin' For Beyond Sausage In Manhattan

Trader Toolkit: An Essential Indicator For Spotting Trends In Stocks

Photo courtesy of Beyond Meat.

Posted-In: CNBC Matt Maley Quint TatroAnalyst Color Short Ideas Top Stories Media Trading Ideas Best of Benzinga

 

Related Articles (MSFT + BYND)

View Comments and Join the Discussion!

AbbVie Reports Q2 Earnings Beat, Raises Guidance

Are Most Adult Cannabis Consumers Actually Medical Users?