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Fast Money Traders Share Their Thoughts On Beyond Meat

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On CNBC's "Fast Money," Brian Kelly said that Beyond Meat Inc (NASDAQ: BYND) is a trading stock for this environment. Everybody is looking at it because of tailwinds related to fears of meat shortages, but it is hard for him to buy it after it traded 41% higher. He would be a buyer on pullbacks.

Jeff Mills said that he wouldn't chase the stock at its current price level. He is concerned because it failed to break above its important resistance at $113 and he feels that the meat shortage is not going to drive the demand at these valuations in the long-term. He likes the partnership with Starbucks Corporation (NASDAQ: SBUX) and the attempt to enter the Chinese market.

Guy Adami expects the stock to reach $130 into earnings on May 5. He said that there is a big short interest and there is a tailwind for the stock. If you want to hedge or double lever it, Adami would own Kimberly Clark Corp (NYSE: KMB) on the back of it.

Tim Seymour sees COVID-19 headwinds for the stock because people are not going out. When things get back to normal, this valuation is not going to make sense, said Seymour. He wouldn't buy the stock, but he wouldn't short it either because of the short interest.

 

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Posted-In: Brian Kelly CNBC Fast Money Guy Adami Jeff Mills Tim SeymourMedia