This was the hottest IPO of 2019. Statistically it was totally out of the line with others. But it happened and I'm glad that I was in it
The company is fine and the product is great.
But the revenue and the growth pace need to find balance with the market value of the company.
As soon as greed ends and we move to lock up period end BYND should correct somehow.
The 3 month lock up period is on 2 August, The 6 month lock up period is on 2 November.
Earnings support and Volume support holds near ~ $100. This will eventually revisit.
Selling short overnight price is around 300%/year , as soon as it settles - we will have the meltdown.
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Now beyond 150 , hehe
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Lets give it a second try.
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Beyond is truly the new TLRY! 235 today on Post market. Near the 14B valuation.. with earning report coming on 29/07. The report should show doubling in revenue, partners, lowering the cost of production, reporting of new products. If any weak point is shown - that might be not so bullish.
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As we approach 180 day lock up ending period on 29 October we do see sell off. Which will also continue for some period.
There's no question this stock is overvalued. IMO its actually worth probably 65-70.00 on the high side and thats if I squint a little. I actually think what you portrayed is possible, but probably spread out more into the fall like October rather than August.
Wait and see though =]
aliakhtar
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i don't think it is going down next week like your chart shows.....it will go down but not in a progression like you have shown. for now i think it will make another high or atleast revisit old highs. it has enough catalysts in line for now and with low volume in last week, i dont think existing shorts have been able to cover yet.
There's no question this stock is overvalued. IMO its actually worth probably 65-70.00 on the high side and thats if I squint a little. I actually think what you portrayed is possible, but probably spread out more into the fall like October rather than August.
Wait and see though =]