© Reuters Beyond Meat (BYND) Shares Rise After Reuters Breakingviews Article
By Sam Boughedda
Shares of Beyond Meat (NASDAQ:) saw some action Wednesday, rising from their lows after an article from Reuters Breakingviews spoke about its potential as a takeover target.
The article, which states the views are the writer’s own, does not say a takeover is on the horizon but that Beyond Meat, at current levels, makes it an attractive takeover target.
Author Sharon Lam believes that a new owner could give the company fresh life, with Beyond Meat losing a significant amount of its market value.
“Missteps under founder Ethan Brown, including overestimating demand and botching partnerships with fast-food chains, have plagued Beyond Meat,” wrote Lam.
However, Lam states that due to the current economic conditions, buyers could be hesitant to “gobble up Beyond Meat.” However, even though Beyond Meat’s “business is unsavory right now, it makes for a tasty takeover target.”
Beyond Meat shares are down 2.5% at the time of writing.
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