Beyond Meat went public in May 2019 and its IPO price was $45. From the month of the IPO to July 2019, which was under 90 days, Beyond Meat’s share price shot to $240 which became its all-time high. Following the dramatic surge in share price, Beyond Meat lost its momentum and took a downward slope over an 8-month period to $48 in March 2020.
Despite the share price almost falling back to the IPO price, the bulls were not giving up on Beyond Meat just yet, and so the bulls became active and it led to a rally in price to $220 in January 2021. The bears have been aggressive since then and for 12 months straight, Beyond Meat’s share price has kept falling.
On the 25th of February, Beyond Meat’s share price closed for the first time ever below the IPO price at $44.49. RSI has been oversold since December 2021. Taking into consideration the RSI readings and other technical indications, the bulls might become more aggressive in the coming months and the price may rally above $154 which is about 3X the current price.
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