Insiders and “Original Investors” are cashing out. Better sell this soon before this craters. Please do not loose your money. (I am NOT short BYND and as a customer want this company/sector to succeed).
The lockout period was supposed to end in October, but insiders could not wait out the sky high valuation. Why do they need a secondary offering, few months after IPO.
Too many red flags.
Their IPO in May was 9.6M shares for $25/ shares. (around $250M).
Now in July in 2 months insiders are selling 3M shares and company is offering 250k shares as a secondary offering.
Why couldn’t the insiders wait till October – original lockout date?
This is insiders bypassing the lockout period by issuing a secondary offering. Huge red flag.