New York (CNN Business) Beyond Meat's stock had soared more than 570% from its initial public offering price as of the market close on Monday. But one Wall Street analyst thinks the plant-based protein company's valuation is now beyond reason. Beyond Meat BYND JPMorgan's Ken Goldman downgradedto a "neutral" rating on Tuesday, news that sent shares plummeting nearly 20% in early trading. The runaway success of Beyond Meat since its May 2 IPO seems like a classic case of investor mania. Yet the company was valued at nearly $10 billion at Monday's closing price of about $168 a share.

Source: CNN June 11, 2019 14:20 UTC