Beyond Meat Compared To Tech Giants Like Facebook And Amazon As Shares Continue To Soar


1 Minutes Read

The company's shares have risen by nearly 60% this year (Photo: Beyond Meat) - Media Credit:

Plant-based startup Beyond Meat has been compared to tech giants such as Facebook and Amazon by TV personality and Mad Money host Jim Cramer.

Despite the coronavirus (Covid-19) pandemic, Beyond Meat’s shares have continued to soar – increasing by nearly 60 percent this year.

ON CNBC’s Squawk On the Street, Cramer praised Beyond Meats and defended criticism of its product not being healthy, claiming that going against the brand is ‘going against history’.

‘Dangerous shorts’

“It’s all going Beyond Meat’s way. And what is Beyond Meat doing? They’re cutting price,” he said.

“So the price of meat is going to go up for the regular meat, and the protein that skips the whole meat chapter is going to do well. Beyond Meat is one of the most dangerous shorts in this market.”

‘Start eating plant-based’

Cramer also said that while Beyond Meat is ‘still a very small company… so was Amazon, so was Facebook, [and] so was Alphabet’ – conglomerates that are mega-cap tech stocks (companies with a market cap of at least $200 billion.)

The presenter added that wet markets are perhaps ‘part of the problem with the food chain’, concluding: “I think the pandemic is saying start eating plant-based.”

You can watch the interview here

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