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Beyond Meat ($NASDAQ:BYND) stock slipped on Thursday after BTIG indicated the McPlant offered at McDonald’s is not as popular as expected. “Our recent franchise checks indicated the McPlant market tests at McDonald’s were disappointing, coming in at or below the low-end of sales projections, and the product won’t be rolled out nationally anytime soon, if ever,” BTIG analyst Peter Saleh wrote in a note to clients. The McPlant is a plant-based burger that McDonald’s has been testing in select markets since October. The fast-food giant had reportedly been considering a nationwide rollout of the burger, but it now appears that those plans are on hold. This news is a blow to Beyond Meat, which has been supplying McDonald’s with the plant-based patties for the McPlant. It’s not clear why the McPlant hasn’t been as popular as expected. It’s possible that customers simply don’t like the taste of the burger or that they’re not aware of the option. McDonald’s has been criticized in the past for not doing enough to promote its vegan options. Do you think this will affect BEYOND MEAT market and earnings in the long term? It’s too early to say how this will affect Beyond Meat in the long term. Beyond Meat is a publicly traded company, so its financials are available to the public. It’s possible that the McPlant’s disappointing sales will have a negative impact on Beyond Meat’s earnings, but it’s too early to say for sure.
This news comes amid mixed reports on the company’s performance. Some analysts believe that the new stock offering will dilute the value of existing shares, while others believe that it is a necessary step for the company to raise capital and continue its growth.
The company’s fundamentals reflect its long-term potential. The VI app makes it easy to see this potential. The intrinsic value of BEYOND MEAT shares is around $135.9, calculated by the VI Line. The stock is currently trading at $23.9, which is 82% below its intrinsic value. Now might be a good time to buy.
The Beyond Meat stock price slipped 6.5% the day after it was announced that sales of the McPlant burger were disappointing. The news was mixed, with some analysts predicting that the stock would rebound and others saying that the company’s growth potential had been overhyped. Beyond Meat is still a relatively new company, and it remains to be seen how it will perform in the long term.