146.82 +2.05 (1.42%)
Pre-Market: 5:59AM EDT
|Bid||145.00 x 800|
|Ask||0.00 x 1200|
|Day's Range||136.27 - 148.54|
|52 Week Range||45.00 - 239.71|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||165.29|
Most of 2019’s biggest initial public offerings have outperformed the S&P 500, relative to their offer prices. That’s likely one reason WeWork’s parent, We Co., has filed for an IPO.
Does stock market volatility have you ready to toss in the towel? My advice is use it to your advantage with IPO stocks Pinterest (NYSE:PINS), Beyond Meat (NASDAQ:BYND) and Luckin Coffee (NASDAQ:LK), where growth has quickly met up with value on the price chart. Let me explain.It's hard to keep up with the broader market's day-to-day gyrations. Wall Street swings from triumphant cheers to worrisome jeers and vice versa. From weak global economic data spooking investors to applause for the delay on levying tariffs on certain Chinese goods, it's hard to keep up with the headlines. * 10 Cheap Dividend Stocks to Load Up On More importantly, please don't forget the names Pinterest, Beyond Meat and Luckin Coffee. One of these stocks could be the next Facebook (NASDAQ:FB), Coca-Cola (NYSE:KO) or even Starbuck's (NASDAQ:SBUX). Bottom line, in today's wild trading environment these three recent IPO stocks are providing investors the opportunity to buy into big-time growth potential at advantageous prices.InvestorPlace - Stock Market News, Stock Advice & Trading Tips IPO Stock to Buy No. 1: Pinterest (PINS)PINS stock is the first of our recent IPO stocks to buy. The super popular web-based visual discovery platform blasted past earnings views and collectively caught investors' eyes as shares exploded higher by nearly 19% in early August.Technically, just over two weeks after reporting and with lots of market turbulence in between, PINS stock has pulled back approximately by 10% from a classic cup-with-handle pattern breakout attempt. This came after scoring fresh all-time highs.It's easy to blame overall market action for the first failure in this IPO stock. Ultimately, it hasn't been a great environment for buying breakouts. But with PINS stock still holding its own technically, there's reason to believe a second attempt will pay investors handsomely. PINS Stock TradeThe recommendation for PINS stock is to put shares on the radar for buying on a breakout above $35.30. That's only likely to occur if the major averages can rally for more than a day and begin to show more convincing signs of bottoming.A second approach for this IPO stock is to buy shares on weakness. I'd recommend looking for a daily chart pivot low to form. Then buy PINS stock on confirmation of a bottom. In order to keep this purchase technically constructive, I'd also make sure the PINS stock price consolidation continues to hold near $31 a share. IPO Stock to Buy No. 2: Beyond Meat (BYND)Beyond Meat is the second of our recent IPO stocks to watch. The alternative, plant-based meats company served up a sizzling, but not "meaty" enough, earnings report a couple weeks ago and word of a below-the-market secondary priced at $160 a share. The combination of reports didn't sit well with Wall Street.Technically, investors immediately punished shares, quickly dismantling BYND stock's uptrend line in free-fall-style price action. Subsequent pressure now has this first-to-market innovator testing its 50% Fibonacci level for support. BYND Stock TradeWhen will the selling pressure in this IPO stock abate? It's hard to know. But given that BYND stock is now well beneath the secondary pricing and testing a key retracement level, this deep pullback is worth monitoring for a bottom to emerge. * 10 Stocks Under $5 to Buy for Fall My advice is for investors to wait for a weekly reversal candlestick to be confirmed before entering into a long position. With this strategy, bulls will give up some immediate profit in this highly volatile IPO stock. More importantly, the approach should allow investors to buy growth at a discount and avoid being grilled for entering too quickly. IPO Stock to Buy No. 3: Luckin (LK)Luckin Coffee is the last of our IPO stocks that's setting up to buy. I'll credit InvestorPlace's Luke Lango for alerting me to this China-based upstart and its promising path to substantial longer-term returns for investors.It's true, Luckin Coffee does have its work cut out for it. The company is competing against the aforementioned coffee powerhouse Starbucks, which has already successfully penetrated this massive overseas market. But still, the opportunity is there. And as Luke notes, with a solid technology-based focus and an eye-popping sales growth runway that's affirming this IPO stock's toehold is working, LK stock is one to pick up on weakness. LK Stock TradeLK stock is testing its 50% and 62% Fibonacci levels and its lower Bollinger Band. Shares are also oversold based on the position of its stochastics indicator. However, this week's earnings-driven breakdown of trend support shouldn't be entirely dismissed. It could be a slippery path to retest this IPO stock's all-time-low near $14 a share. Anything is possible.My recommendation on LK stock is to wait for a daily chart bottoming candle to be confirmed if shares can maintain a bid above $18.75. This allows for a modest bit of wiggle room beneath the 62% level. That also respects exiting the position on a more convincing failure of this key technical support in anticipation of a more durable purchase at deeper and well-chilled levels of investor anxiety.Investment accounts under Christopher Tyler's management currently own positions in Pinterest (PINS) and its derivatives, but no other securities mentioned in this article. The information offered is based upon Christopher Tyler's observations and strictly intended for educational purposes only; the use of which is the responsibility of the individual. For additional market insights and related musings, follow Chris on Twitter @Options_CAT and StockTwits. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post 3 Recent IPO Stock Pullbacks Worth Watching appeared first on InvestorPlace.
Beyond Meat (BYND) stock fell 11.5% yesterday, seemingly on no major news. While BYND’s prospects look promising, its stock still experiences wild swings.
U.S. stock futures are trading slightly higher this morning, though the overnight gains have been pared ahead of the bell.Source: Shutterstock Heading into the open, futures on the Dow Jones Industrial Average are up 0.50%, and S&P 500 futures are higher by 0.51%. Nasdaq-100 futures have added 0.69%.In the options pits, yesterday's neutral session took some of the wind out of the sails of options volume. Nonetheless, we still ended the day with above-average volume. Puts led the charge with about 22 million contracts traded versus only 20.2 million for calls.InvestorPlace - Stock Market News, Stock Advice & Trading TipsIt was the action at the CBOE that stole the show, however. Curiously, the single-session equity put/call volume ratio rocketed to its highest reading of the year, revealing mass fear on a day where the market didn't fall that much intraday. At 0.98, the metric is closing in on its super-spike from last December's market meltdown. Contrarians will point to the spike as a signal that a market bounce is nigh.Options activity surged in Walmart (NYSE:WMT), Canopy Growth (NYSE:CGC) and Beyond Meat (NASDAQ:BYND)Let's take a closer look: Walmart (WMT)Walmart shares soared over 6% on Thursday after WMT reported strong earnings results. The retail behemoth posted earnings of $1.27 on revenue of $130.4 billion. Both measures bested analyst estimates and had shareholders cheering in the street. E-commerce sales drove a lot of the growth with online grocery shopping continuing to see mass adoption. * 15 Growth Stocks to Buy for the Long Haul The rally in WMT stock reclaimed almost all that was lost during the past month's correction. At $112.69, it now sits a mere 2.5% off its peak. Thursday's surge turned the stock higher at a pivotal old resistance zone that has now become strong support; $105 is the new line in the sand to watch for bulls. Provided we stay above it, the trend is higher.On the options trading front, traders came after calls throughout the session. Activity swelled to 363% of the average daily volume, with 137,803 total contracts traded. Calls accounted for 57% of the take.The options market was pricing in an earnings gap of $5 or 4.7%, so the 6% jump exceeded expectations, bringing profits to long volatility positions. The post-earnings volatility crush was on full display with a drop to 23% or the 48th percentile of its one-year range. Canopy Growth (CGC)Traders fled Canopy Growth in droves Thursday after the Canadian-based cannabis producer revealed terrible first-quarter numbers. The departure resulted in a 14.4% loss on one of its highest volume trading sessions in months. This year's gains have now all but unwound.At one point, the high-flying pot stock was up almost 100%. Now it's virtually unchanged for 2019. Revenue fell compared to the prior quarter to 90.5 Canadian dollars and came in over CA$20 million below estimates. The drop in sales resulted in an overall loss of $1.28 billion.CGC stock was already on a bearish trajectory, but its descent accelerated in a big way. The next stop is $25.26, which hosts a significant support zone. Expect the weak earnings to weigh on the stock for the coming quarter. Rallies are suspect, and bear trades are the way to go.On the options trading front, calls and puts proved almost equally popular. Total activity grew to 270% of the average daily volume, with 84,871 contracts traded. Calls slightly edged out puts with 52% of the sum.The options board was pricing in a 9% move on earnings, so the initial gap was on target, but selling throughout the day pushed CGC well past expectations at -14%. Like WMT, volatility buyers came out winners for CGC. * 7 Education Stocks to Buy for the Future of Academia Beyond Meat (BYND)The inevitable and long-awaited reality check has arrived for Beyond Meat shares. Yesterday's 11.5% thrashing marked the first time BYND stock has broken support since its mid-year IPO. Essentially, this is the first time buyers failed to defend their turf and it marks a decisive change in character.Skeptics have long predicted the bloom would come off the rose given the insane valuation levels the company has been driven to during its nearly 700% moonshot. This week, these prophets finally get to have their day in the sun. With BYND now below the 50-day moving average, I suggest caution to any would-be buyers. The technical picture is now ugly and indicates the path of least resistance has shifted from higher to lower.Traders favored puts alongside the stock beatdown. Activity climbed to 139% of the average daily volume, with 262,312 total contracts traded; 56% of the total came from puts.As of this writing, Tyler Craig didn't hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Cheap Dividend Stocks to Load Up On * The 10 Biggest Losers from Q2 Earnings * 5 Dependable Dividend Stocks to Buy The post Friday's Vital Data: Walmart, Canopy Growth and Beyond Meat appeared first on InvestorPlace.
Shares of the plant-based meat substitute were sliding again, though there was little news out on the company. Here are some possible explanations.
After falling from around $240 to around $140 at the end of July, BYND may have triggered a pattern that will carry it to around $100 and fill the gap of early June.
During the first six months of 2019, WeWork’s revenues and losses from operations almost doubled compared to the same period in 2018.
Most of 2019’s biggest initial public offerings, including Beyond Meat, have outperformed the S&P 500 relative to their offer prices. That’s likely one reason WeWork parent We Co. has filed for an IPO.
Trading volume has been contracting this month and the On-Balance-Volume (OBV) line shows a slight decline from late July. A declining OBV line only happens when trading volume is heavier on days when BYND closes lower. The Moving Average Convergence Divergence (MACD) oscillator is in a take profits mode and close to a sell signal as it is close to crossing the zero line.
The best-performing US initial public offering so far this year has not come from the well-funded, well-hyped tech industries such as transport, data or cyber security but from meat replacement. What more can a hot, newly listed company do on its first earnings day as a public company than report a better rise in sales than expected?
After Beyond Meat's (BYND) stock rose to more than nine times its IPO price in less than three months, it fell 28% from its high of $234.9 on July 26.
Welcome to the latest episode of the Full-Court Finance podcast from Zacks Investment Research where Associate Stock Strategist Ben Rains and guest Madeleine Johnson dive into the world of coffee to see how the major publicly traded firms from Starbucks (SBUX) to Dunkin' (DNKN) have performed...
(Bloomberg) -- The world’s largest pork processor is entering the fast-growing market for plant-based protein.Smithfield Foods, a $15 billion food company, is launching a new line of soy-based products under its Pure Farmland brand, including burgers, meatballs and breakfast patties, according to a statement on Monday.Big meat companies are racing to catch-up as plant-based protein resonates with consumers. Beyond Meat Inc. has surged since its trading debut in May and its burgers and sausages are now in thousands of stores and restaurants across the U.S. Impossible Foods, its chief rival, recently expanded its burger nationwide with the fast-food chain Burger King.Smithfield follows other large meat companies in embracing alternative protein. Tyson Foods has announced it will offer a burger made of half beef and half pea protein, while Perdue Farms is launching “Chicken Plus” nuggets made from a blend of chicken, cauliflower and chickpeas.The companies, watching the success of Beyond and Impossible, are trying to cash in on the rise of the “flexitarian” lifestyle --consumers who aren’t avoiding meat entirely, but want to reduce their consumption by replacing it with other plant-based options. The plant-based category could capture as much as 10% of the global meat market in ten years, reaching $140 billion, according to a recent report from Barclays.Smithfield was acquired in 2013 by Hong Kong-listed WH Group. In recent years, it has tried to push deeper into the market for packaged foods, focusing on products like sliced ham and marinated pork chops, to offset volatility in its commodity business.To contact the reporters on this story: Deena Shanker in New York at firstname.lastname@example.org;Lydia Mulvany in Chicago at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Craig GiammonaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Aramark is entering the plant-based meat craze. The Philadelphia-based food services giant said it is working with Beyond Meat (NASDAQ: BYND) to offer items like meatless burgers, sausages and crumbles on its menus at college campuses, hospitals, sports venues, businesses and schools across the U.S. Aramark chefs, for example, are working to develop a gumbo bowl for hospital patient menus using Beyond Sausage. The company is also serving meatless burgers and brats at various ballparks, including Citi Field in New York and Minute Maid Park in Houston.
The cannabis industry continues to deliver storylines, both negative and positive, that leave investors scratching their heads about which pot stocks to buy. One recent story has shined a light on Hexo (NYSE:HEXO), which could end up hurting Hexo stock holders. Source: Shutterstock Hexo, the largest company by market share in Quebec, Canada's second-largest province by population, is facing additional scrutiny after The Friendly Bear, a short-seller research firm released a report July 29 suggesting it was using aggressive promotion tactics on Snap Inc's (NYSE:SNAP) Snapchat in violation of Canada's strict advertising laws regarding minors. The Friendly Bear went as far as suggesting Hexo could be Canntrust 2.0, a reference to Toronto-based CannTrust (NYSE:CTST), who've been forced to cease cannabis sales while Health Canada decides whether to suspend or revoke its license as a result of an audit that found the company was growing pot in five unlicensed rooms at its Pelham, Ontario, grow-op. InvestorPlace - Stock Market News, Stock Advice & Trading Tips Hexo Stock and RegulationsLet's be clear about one thing. Any advertising violations, which Hexo vehemently denies, are not the same thing as growing illegal pot. People could go to jail over the CannTrust issue. * 7 S&P 500 Dividend Stocks to Buy With Yields of at Least 3% "We're in uncharted territory," said Trina Fraser, a cannabis lawyer with Brazeau Seller Law, about the Health Canada probe. "The potential for people to go to jail certainly exists. The potential for significant fines to be levied certainly exists."Anyone who's invested in cigarette companies knows you don't go to jail for advertising violations. Until proven otherwise, Hexo's reputation is entirely intact, in my opinion. However, the incident should make investors question Hexo's valuation. Hexo Stock ValuationAs I write this, the Hexo stock price is $4.70, well below $10, the share price I predicted it would hit in my May article about the company. At its current price, it has a market cap of $1.14 billion. As InvestorPlace's Ian Bezek recently stated, Hexo is nowhere near generating the CAD$400 million ($302 million) in revenue it's projecting by the end of 2020; it's currently at an annual run rate of C$70 million.That would imply it's trading at 16.3 times sales. Not nearly as high as Beyond Meat (NASDAQ:BYND) at 59 times sales, but pricey nonetheless. However, consider these two points before dumping on Hexo's current valuation.First, the Motley Fool's Keith Speights wrote an excellent piece July 28, using a back-of-the-napkin calculation to determine Hexo's future valuation. Speights hypothesized that since the Canadian adult-use recreational marijuana market is projected to reach $5 billion by 2024, and Hexo has 30% market share in Quebec, a province that accounts for 21% of Canada's population, it should have 6.3% market share for the entire country. He then upped that to 7% to account for its market share outside of Quebec. I like the way he's worked backward from the total market estimate. While it might turn out to be lower than $5 billion, the odds of Hexo losing market share in Quebec is unlikely. So, that works out to revenue of $350 million by 2024, or 3.3 times sales based on its current valuation. That's the first floor on HEXO. The Molson Coors FloorThe second floor is the 50/50 joint venture with Molson Coors (NYSE:TAP).As I stated in July, the Truss partnership with Hexo is ready to go when the legalization of cannabis-infused drinks happens in October, and distribution rolls out in December after the required 60-day waiting period. "We'll have a very large supply so we'll be in a good position to be able to meet the demand of the marketplace and at the same time also ensure that we're meeting the variety that the marketplace wants," Hexo's VP of Strategic Development, Jay McMillan said in an interview at the World Cannabis Congress in Saint John, New Brunswick, in June. What's that worth to Hexo stock? I believe that cannabis-infused drinks, edibles and vape concentrates will be far more lucrative on a global basis than the dried flower. The revenues generated from Truss could be significantly higher than Hexo's dried flower sales. And that doesn't take into consideration the real possibility that Molson Coors could partner with Hexo in the U.S.So, I don't think it's out of line to suggest the drinks portion could be worth at least $175 million (half the $350 million estimate by 2024 for dried flower) to Hexo. Add that to the $350 million and you get a current valuation that's just 2.2 times sales. Does Molson Coors act as a floor on Hexo stock?I think it does. At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 8 Dividend Aristocrat Stocks to Buy Now No Matter What * 7 Stocks to Buy to Ride the Vegan Wave * 4 Safe Stocks to Buy Amid Trade War Turbulence The post Molson Coors May Be the Only Thing Propping Up HEXO Stock appeared first on InvestorPlace.
The competition for control of the burgeoning market for burger replacements(and other alternatives to animal proteins) continues to heat up
Beyond Meat and other plant-based companies are getting grilled by lobbyists claiming the fake meat products are unhealthy. Yahoo Finance's Akiko Fujita, Brian Cheung, Dan Roberts and Dan Howley discuss.
Another profitless unicorn is looking to go public, as WeWork publicly unveiled its S1 filing today, showing a $690 million loss in the first half of 2019. Yahoo Finance's Zack Guzman, Sibile Marcellus, and Emily McCormick are joined by Carleton English, New York Post Hedge Fund Reporter, to discuss.