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Curiosity21
2021-03-04

Meaty

Beyond Meat's best days may be behind it after nearly 200% rally off March lows, investors warn

Citi is getting bullish onBeyond Meateven after its surge off last year's lows. Analysts at the firm

Beyond Meat's best days may be behind it after nearly 200% rally off March lows, investors warn

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Beyond initially surged on the call before reversing course and ultimately dropping into the close, falling more than 5%.\nTodd Gordon, founder of TradingAnalysis.com, is more skeptical on the name.\n\"The momentum and the narrative is slowing,\" Gordon told CNBC's \"Trading Nation\" on Tuesday. \"I think it's going to be a challenge for Beyond Meat going forward despite the strong partnerships.\"\nBeyond Meat has rallied strongly, and is now up nearly 12% this year, compared to theS&P 500which is up 3%. It has risen nearly 200% since last March.\n“You can see the chart here to judge where you are,” said Gordon. ”[There’s] downside support at about $130, but you need to break above $190 to get us going.”\nThe stock traded just below $140 on Tuesday.\nNancy Tengler, chief investment officer at Laffer Tengler Investments, agrees with Gordon’s call. 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