What's up guys, checking back in with BYND since out last analysis about 4 weeks ago.
BYND & Impossible Foods have both been trying to win over McDonalds for a while now. What just sparked the stock breakout out of the wedge, was that Impossible Foods CEO Pat Brown told Reuters that the company is working to more than double production at the moment instead of trying to win a deal the size of McDonald’s as it can’t currently produce enough of the product to partner with giant restaurant chain.
This is great news for BYND as they responded “We would have to work with them (McDonald’s) on timing but, yes, we would be able to meet their demand globally. McDonalds is now extending it's Beyond Meat burger testing. They are currently selling their plant-based patties to Dunkin' Donuts, Del Taco, Carl's Jr. and Denny's to name a few.
If we continue bullish, the next targets we are looking at at the $96, followed by the $109 range. Could see a little pull back as the RSI is heading into overbought regions.
Shoot us a like and follow and we'll be back with some updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
BYND & Impossible Foods have both been trying to win over McDonalds for a while now. What just sparked the stock breakout out of the wedge, was that Impossible Foods CEO Pat Brown told Reuters that the company is working to more than double production at the moment instead of trying to win a deal the size of McDonald’s as it can’t currently produce enough of the product to partner with giant restaurant chain.
This is great news for BYND as they responded “We would have to work with them (McDonald’s) on timing but, yes, we would be able to meet their demand globally. McDonalds is now extending it's Beyond Meat burger testing. They are currently selling their plant-based patties to Dunkin' Donuts, Del Taco, Carl's Jr. and Denny's to name a few.
If we continue bullish, the next targets we are looking at at the $96, followed by the $109 range. Could see a little pull back as the RSI is heading into overbought regions.
Shoot us a like and follow and we'll be back with some updates.
Cheers!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor. I am an amateur investor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, or stock picks, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies. I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on here, expressed or implied herein, are committed at your own risk, financial or otherwise.
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.
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.