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Beyond Meat Tanks Nearly 12% Due to Secondary Stock Offering

Beyond Meat(BYND) is selling company stock below market price, and investors are not happy.

The company announced on Thursday, August 1, 2019 that it would sell 3.25 million shares of stock @ $160/share, however, on Wednesday, the stock was trading at $195/share.

Beyond Meat said that the shares will come from existing stock holders and sell another 250,000 itself. Now this could be a sign that the company is currently overvalued or just an attempt to raise capital.

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