At pixel time, Beyond Meat's shares are trading up 21.95 per cent on the day, to 9.08. That gives it a market capitalisation of just over bn compared with the .5bn valuation it IPO'd at in May.When Alphaville commented on the company's excruciatingly over-the-top valuation just under a month ago, it was trading at .50. Oops. Look, we're generally of the belief that security prices tend to reflect their economic fundamentals. But sometimes, a stock's price becomes unmoored from the net present value of its future cash flows. Think of cannabis stock du jour Tilray last year, or the pivoting blockchain hopefuls which emerged during 2017's crypto-mania.It is fair to say Beyond Meat, trading at 46 times forward revenues, is now firmly in that category.We note the 180 day lock-up
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At pixel time, Beyond Meat's shares are trading up 21.95 per cent on the day, to $169.08. That...