Beyond Meat $BYND Stock Forms Rectangle Bottom, Dark Pool Buying

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Beyond Meat $BYND stock is trading in a complex rectangle bottom pattern as of December 17, 2022. While analysts are publicly hating on the heavily invested by Bill Gates stock, an institutional investor is bottom feeding in the stock.

Beyond Meat stock chart on December 17 2022 in a rectangle bottom pattern
Beyond Meat stock chart on December 17 2022 in a rectangle bottom pattern

Unusual Dark Pool Trades In Beyond Meat $BYND

Two unusually large dark pool trades occurred in Beyond Meat $BYND on November 23, 2022, and November 29, 2022. One trade was valued at $6.4 million and the other trade was valued at $5.3 million. We think the dark pool trades were buy orders because Beyond Meat $BYND stock rose following the trades hitting the tape.

Beyond Meat stock chart on December 17 2022 with dark pool trades shown with orange bars
Beyond Meat stock chart on December 17 2022 with dark pool trades shown with orange bars

Make sure to review this lesson on dark pool trading so that you understand the chart above.

The two largest institutional investors are Blackrock and Vanguard so odds suggest it is one of these companies that are increasing its long holdings in $BYND stock. It’s sort of fuzzy logic but that’s what we have to do when it comes to dark pool trades. Blackrock and Vanguard won’t reveal what they are doing in SEC filings until months after they’ve done it.

Beyond Meat downgraded to Sell at Argus

Beyond Meat was downgraded by Argus analyst Kristina Ruggeri on December 9, 2022, from Hold to Sell. According to the analyst, lower economic conditions have resulted in a decline in demand for the company’s plant-based protein, and many consumers have switched to less expensive options. According to Ruggeri, who also expects the business to continue reporting operating losses in the upcoming quarters, Beyond Meat has also been harmed by increased competition from other producers of plant-based protein, as well as by “low utilization” charges and termination fees from co-manufacturers.

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