What is your strategy now with Beyond Meat? I bought and sold a few times, but my luck ran out, and now I'm stuck in a position with -70%. Looks like I'm going to be here a while. Curious to hear what you guys' strategies are.
Quick update on the remaining 2027 convertible notes for anyone still tracking this mess.
As of the Q2 report (June 27):
$29.459 million principal still outstanding.
Then on Sept 23 they did another debt-for-equity swap of about $15 million.
So that should leave roughly $14.5 million still hanging around. These mature in March 2027. Company keeps slowly chipping away at them by handing out more shares instead of paying cash.
Now the annoying part…
Stock was trading around $12 not that long ago and management still decided to issue shares as low as $7.85 in the latest exchange.
So are we looking at another 30% haircut from current levels the next time they decide to clean up the last bit of these notes?
Curious what everyone thinks. Feels like they’re just going to keep diluting until the last of these 2027 notes are gone.
This CEO & management deserves every bit of scrutiny (or credit, definitely clever ones). https://investors.beyondmeat.com/board-member-management/ethan-brown