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Why Beyond Meat Stock Dropped Monday

Why Beyond Meat Stock Dropped Monday

Shares of planted-based "meat" purveyor Beyond Meat (NASDAQ: BYND) got chopped up on Monday after analysts at Piper Sandler downgraded the stock from neutral to underweight -- and cut their price target on the stock by more than 40%, to just $29 a share. In a report out last week, investment bank BTIG described the sales performance of McDonald's McPlant burger (made by Beyond Meat) as "underwhelming" and lacking "evidence to support a national rollout in the near future." Today, Piper Sandler is echoing those worries, and adding some more of its own, in a report covered by StreetInsider.com.