18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
20,575 Blog Posts

Shut Up About the JP Morgan Downgrade of $BYND Today — Just Shut Up

I too wanted to see vegans BTFO, in spite of my respect for their discipline. See, Le Fly tried being a vegan for about a year and found it to be incredibly hard and annoying. It was, however, good, in the sense that it provided a sense of regimen in my diet and offered me the opportunity to be extreme obnoxious while dining at restaurants.

Ever since BYND started to trade publicly, steakFAGS have been out to get it — and they’ve been utterly and completely BTFO. The stock is +100 points since 5/2 and there is nothing to be said about it, other than ‘nice showing.’

Today, a retarded analyst from JP Morgan, who is more than likely irrelevant in every aspect of life except this, downgraded the shares — with a very cute catch phrase.

The firm downgraded the stock to “neutral” from “overweight” and kept its price target of $120. The alternative meat company reported stronger-than-expected earnings last week — its first report since going public. The stock is “beyond our price target,” J.P. Morgan analyst Ken Goldman said in the note to clients. The share price has already exceeded the price target of every analyst on Wall Street and short sellers have lost more than $400 million betting against the plant-based burger maker’s stock since it went public, according to research firm S3 Partners. “This downgrade is purely a valuation call,” J.P. Morgan said. “As we wrote last week, ‘At some point, the extraordinary revenue and profit potential embedded in BYND… will be priced in’ – we think this day has arrived.”

Fuck off.

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