In today's video, I look at Beyond Meat (BYND 3.84%) and share a few reasons why investors should be bullish on this growth stock.
Two reasons to be bullish on Beyond Meat
- For the first quarter of 2021, Beyond Meat saw 11.4% year-over-year (YOY) revenue growth despite the domestic foodservice segment being down 26% YOY. The reduction in the restaurant business drives the decrease in the foodservice segment, and Beyond Meat should see stronger results as restaurants begin to reopen domestically and internationally.
- Looking through Beyond Meat's investor relations press release, the company has announced numerous partnerships. To name a few, in the past three months it has increased its products in Walmart, partnered up with Pizza Hut Canada and Carl's Jr., announced major retail expansions throughout Europe, and opened up a manufacturing facility in China.
Click the video below for my full thoughts.
*Stock prices used were the closing prices of May 24, 2021. The video was published on May 25, 2021.
