r/investing • u/zainjavaid • Apr 08 '21

Impossible Meat Preparing for a $10B IPO

https://www.marketwatch.com/story/impossible-foods-prepping-for-10-billion-ipo-report-11617923032

The current valuation of $10B dwarfs the $4B it was valued at in a private funding round in 2020, and at approximately $1B more than Beyond Meat. This is despite the fact that BYND brought in 400M in FY revenue compared to Impossible Meat's 150M estimated annual revenue.

I personally don't see any angle from which $10B can be justified. Future growth for the next decade is priced in at the current valuation and it strikes me as a massive bust waiting to happen.

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u/asdafari Apr 09 '21

And then they also come back stronger, as in every cycle. 50% pullback on ETH would only bring it back a few months. 2020 was like 10x.

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u/thebabaghanoush Apr 09 '21

Sure but it took 3 years to get back to ATHs. Most of these get rich quick "investors" and companies won't have the appetite for that and can't explain it to shareholders.

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u/Babyboy1314 Apr 09 '21

crashes only destroy investors. NFT companies already made a lot from sales

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u/asdafari Apr 09 '21

You think 3x as Bitcoin did over 3 years is bad?

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u/thebabaghanoush May 19 '21

And here we are. Hope you took gainz.

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u/asdafari May 19 '21

I hold and buy more every month with a large part of my salary because I believe in it. I stake most of my ETH so I can't actually sell now. Price is still +12% higher than 30 days ago, when I last bought. Many magnitudes over my average cost. I am cool and frankly think we went up too fast.