Beyond Meat Reddit Rumors and Salesforce Reported Great Earnings
Beyond Meat is the favorite stock of all vegetarians, even though it has the word “meat” in it. This is because they produce and sell meat-alternatives that are made by plants but taste like meat. They are also a favorite for environmentalists as the meat industry is notorious for its high emissions.
Beyond Meat is evolving into a favorite for Redditors, too. Over the last two weeks, Beyond Meat has cracked the top 20 in terms of Reddit mentions, primarily in the subreddit WallStreetBets. This came as Jim Cramer, the host of Mad Money, highlighted Beyond Meat’s 20 percent short interest and the resurgence of meme stocks like AMC, which encouraged many retail traders.
As a result, Thursday’s close saw Beyond Meat sitting at $142.61, up 12.52% on the day.
Salesforce is one of the largest cloud-computing companies in the US, holding a market cap of $208.268 billion. The Silicon Valley company is led by Marc Benioff, the billionaire entrepreneur that has transformed the business into what it is today.
On Thursday, Salesforce reported their first quarter earnings. They beat expectations in earnings per share with a profit of $1.21 per share, and they slightly topped revenue expectations with $5.96 billion. Salesforce’s guidance was positive, and they expect a revenue boost from their $27.7 billion of Slack back in 2020.
After market close on Thursday, Salesforce rose 4.19% to $235.50.
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.