Beyond Meat Major Analyst Upgrade and Square Announced Banking Update
Beyond Meat is one of the most disruptive companies in the market. They produce and sell plant-based meat to restaurants and retail stores, with the goal of destroying the meat industry for a better environment.
On Monday, Bernstein analyst Alexia Howard double upgraded Beyond Meat from Underperform to Outperform, setting a $130 price target. The reasoning behind this is Beyond Meat’s link with major chains like McDonalds, who offer plant-based items on the menu. These fast-food chains and restaurants are starting to open up, which leaves more sales for both of them.
Beyond Meat liked this news, closing Tuesday up 10% to $117.25
Square is also a disruptive fintech company led by Twitter CEO Jack Dorsey. They are a payment processing app, and they have a mobile card reader. They have been revolutionary for small businesses, but they haven’t stopped yet.
On Monday, Square announced that they will offer checking and savings accounts to its customers, allowing them to compete with big banks such as JPMorgan and Bank of America. However, this wasn’t publicly announced by the company. Instead, users found out through their update on the App Store, which surprised everyone.
Square investors reacted well, with the stock price rising 5.47% to $210.95.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.