Beyond Meat (NasdaqGS:BYND), the meatless manufacturer’s share price has soared up $9 today, again hitting $129 a share. BYND is still well below its 52-week high of $239.70. We believe investors should steer clear of the temptation to go long, and instead get ready to short this overhyped trap stock.
By James DiGeorgia
Denny's Corporation (DENN) announced today it is adding a Beyond Burger to the nationwide menu of 1700 of its restaurants this coming Thursday, January 30, 2020, by giving away on that first day a Beyond Burger between from 11 am to 10 pm. The Beyond Burgers they will be giving away will be dressed with Denny’s All-American sauce, American cheese and a multi-grain bun.
This comes after a Denny's previously gave away free Beyond Burgers on Halloween to commemorate the launch of the item in Los Angeles.
It’s giving away free Beyond Burgers, plant-based burgers made by Beyond Meat Inc. on January 30 to launch the menu item nationwide. The Beyond Burger will be available at all 1,700 Denny's locations. We in our sister publication World Opportunity Investor shorted Beyond Meat this past September and October; subscribers who followed our recommendation racked up a $4,707,000 profit on October 18, 2020.
We believe the rally on this news and hype could push Beyond Meat (NasdaqGS :BYND) back over $163.97, the level we first shorted the stock, sometime in the next few weeks. We wouldn’t be surprised to see the firm’s shares pop back over $200. We still believe, however, BYND shares are worth in the $75 range and will see that level again. It’s going to take some patience and wait for our Erlanger Chart Room signals to reverse and tip us off as to the next big sell-off that will allow our World Opportunity Investor to take another round of profits as gravity and reality take hold of BYND.