ExFlyBoy5
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
While perusing the interwebs, I came across a story on "Beyond Meat" on CNBC. Now, I don't watch CNBC very often and I might take a look at their website headlines once every few days but I have seen this Beyond Meat being covered every time I have been to the site. So, I read the story and was amazed to learn that this company had its IPO back in May but now its market cap is over $10 BILLION and is larger than 80 S&P 500 companies...some of which include Macy's and Zerox.
https://www.cnbc.com/2019/06/19/bey...ga-rally-but-ipo-euphoria-might-not-last.html
To me, this is MADNESS! I am a "steady as she goes" index investor, so I don't keep up with most of the IPO news, but this just really blows me away. Is there just THAT much money that people have no issues with these highly speculative stocks that have made NO PROFIT!?!
Since going public in early May, the stock has raced nearly 600% higher, taking its market cap above $10 billion. The plant-based meat company is now larger than 80 S&P 500 companies, including Macy’s, Xerox and Mylan.
https://www.cnbc.com/2019/06/19/bey...ga-rally-but-ipo-euphoria-might-not-last.html
To me, this is MADNESS! I am a "steady as she goes" index investor, so I don't keep up with most of the IPO news, but this just really blows me away. Is there just THAT much money that people have no issues with these highly speculative stocks that have made NO PROFIT!?!
Some of the highest-profile IPOs this year, such as Beyond Meat, Lyft and Uber, are companies without profit. Beyond is not projected to generate quarterly income until the third quarter of 2020, according to FactSet estimates.
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