Why Beyond Meat Stock Withered on Wednesday

Beyond Meat (NASDAQ: BYND), the bellwether alternative-protein stock, lost a little weight on the stock market Wednesday. The first note was a reiteration, with Piper Sandler prognosticator Michael Lavery leaving unchanged his neutral recommendation and $64 price target on Beyond Meat stock. In his latest note on the company, Lavery waxed enthusiastic about the prospects of the McPlant, the Beyond Meat-developed sandwich being tested as a menu item by McDonald's. Pointing out that the McPlant will be rolled out in a new phase to around 600 McDonald's restaurants in California and Texas next month, he wrote that this "suggests a full U.S. launch to nearly 14,000 restaurants is likely coming later than the end of 1Q."