Beyond Meat Shares Drop After Secondary Offering

Abigail Doolittle discusses the recent stock performance, highlighting an 8% drop after a significant rise. The decline is linked to a secondary offering at a discount, raising concerns about early venture backers selling shares. The technical analysis shows a bullish pattern, but the market is surprised by the downturn. A waiver for the lock-up period was granted, allowing more shares to be sold. The company aims to raise $40 million, possibly for production, amid market jitters.

What was the main reason for the stock's 8% drop discussed in the video?

• Poor quarterly results

• A change in company leadership

• A sudden market crash

• A secondary offering at a discount

What was the initial IPO listing price of the stock?

• $25

• $200

• $160

• $234

What pattern was observed in the stock's technical analysis?

• Rising lows and equidistant highs

• Flat trend

• Volatile swings

• Descending highs

What unusual action did the company take regarding the lock-up period?

• Applied it to all shares

• Ignored it completely

• Extended it to one year

• Waived it for a specific offering

What potential use of the $40 million from the offering was mentioned?

• Debt repayment

• Employee bonuses

• Production investments

• Marketing campaigns