BYND - Filled the gap
BYND soared on the Pepsi news, but TBH - it wasn't really a catalyst for anything new. I believe the market is actually waiting on bigger news re: KFC and possibly other major casual outlets. Here's the thing, they're already in with Pizza Hut, which as a part of YUM brands, means they have the needed connections into Taco Bell (marketwatch.com/story/taco-bell-partnering-with-beyond-meat-to-create-plant-based-protein-11610630533) which has already been announced. KFC will be the next drop. The Pepsi partnership is interesting because YUM brands was originally a part of PepsiCo before it spun off. Basically, Beyond Meat has some serious connections in the food industry.
The bullish thesis is this: BYND filled the Pepsi gap-up. It didn't breakdown after correcting. The stock still hasn't touched its ATH from IPO days. They are under pressure from Impossible Foods. These two companies however, are very much like Burger King and McDonalds. They work well together and the market is not a zero-sum game.
Mid-term, BYND will soon see its ATH. A major catalyst like KFC will send it above its ATH and create a new long-term growth channel.
The bullish thesis is this: BYND filled the Pepsi gap-up. It didn't breakdown after correcting. The stock still hasn't touched its ATH from IPO days. They are under pressure from Impossible Foods. These two companies however, are very much like Burger King and McDonalds. They work well together and the market is not a zero-sum game.
Mid-term, BYND will soon see its ATH. A major catalyst like KFC will send it above its ATH and create a new long-term growth channel.
now let's go daft.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.