Diamonds and Dogs
Facebook (FB) up 2% on an upgrade. The FAANG stocks have taken on the chin recently due to regulatory scrutiny and suggestions of breaking up the tech titans. An anayst upgraded Facebook this morning with a $210 price target saying the improving underlying fundamentals more than offset the regulatory risks.
Beyond Meat (BYND) beyond analyst price targets. The plant-based meat company is down 20% on a downgrade from JP Morgan. The analyst said the extraordinary revenue and profit potential is already embedded in the stock price. A blogger put it more bluntly saying the $11-billion valuation provided a candidate for the "pinpoint minute of peak insanity" in this bubbly market. Beyond Meat came public a little more than a month ago and has exploded for a 572% gain. The $11 billion market cap is more than Shake Shack, Wendy's, Jack in the Box, Red Robin, Habit Restaurants and Good Times, combined!
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