Normally when I see exciting “tech” startups IPOing at lofty valuations I just groan and recognize that we are in a speculative growth kind of market. Ordinarily, I keep these thoughts to myself, but I feel compelled to write about my distaste for the Beyond Meat (BYND) IPO price action due to a combination of its extreme valuation and the lack of viability of its product.
I am not here to comment on the flavor or mouthfeel as these are subjective and some people may enjoy the product. Instead, I want to discuss the nutrition and the misconceptions resulting from how this product is marketed. Eventually, the substandard nutritional content will hamper demand for the product and its valuation is predicated on massively higher demand.
Those who follow my work know that I am a REIT dedicated analyst, so Beyond Meat is well outside of my normal research, but I am a nutritionist by education with a B.S. in dietetics from UW Madison.
The food industry is among the most dishonest when it comes to marketing and in many cases this marketing endangers the health of an unsuspecting public.