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StockBeat: Beyond Meat Hit Hard as IPO Lockup Period Ends – Beyond Meat (NASDAQ:BYND) fell sharply as restrictions preventing investors from selling shares in the plant-based meat maker expired Tuesday.

The company’s post-IPO share lockup period expired, paving the way for early investors to potentially take profits in the company, whose shares are up more than 200% since its IPO.

Beyond Meat fell 19% to $85.33.

Pre-IPO shareholders are usually restricted from selling shares in a company for a period between 90 and 180 days after it goes public.

Despite the drop, sentiment on the company remained bullish after it reported earnings that beat estimates compiled by

Beyond Meat raised full-year guidance and reported earnings of 6 cents per share on revenue of $91.96 billion.

The company guided full-year revenue in a range of $265 million to $275 million, up from a previous forecast of more than $240 million.

The earnings beat was driven by a 250% jump in sales amid increasing demand for meatless products.

But with demand for meatless products on the rise, competition is heating up.

In its post-earnings call, Beyond Meat warned that it may have to slash prices to stay ahead of rivals like Impossible Foods and Nestle.

Despite the rise in competition, the company will likely continue to boost manufacturing and marketing, which in the long run will support revenue growth.

"With management currently compromising profitability at the EBITDA level for manufacturing investments and marketing, we believe this is the right strategy to continue to deliver outstanding top-line growth coupled with healthy levels of profitability for what still can be seen as a young company in an emerging food category," Barclays (LON:BARC) said in a recent note.

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