Beyond Meat, Lyft Slide as Mood on Street Slaps Recent IPOs - Yahoo Finance

Beyond Meat, Lyft Slide as Mood on Street Slaps Recent IPOs

(Bloomberg) -- Shares of recently listed companies like Beyond Meat Inc. and Lyft Inc. are getting hit after sentiment on Wall Street soured over the weekend as investors weighed the prospect of a U.S. trade war with China.

With S&P 500 index down 1.3 percent at 9:50 a.m., Wall Street darling Beyond Meat -- the maker of plant-based burgers that more than doubled its IPO price of $25 after only two days of trading late last week -- is underperforming, falling as much as 6.4 percent in Monday’s trading.

Shares in Zoom Video Communications Inc. drop as much as 5.9 percent. while ride-hailing service Lyft tumbles 4.2 percent. If the mood doesn’t change soon that may bode ill for key competitor Uber Technologies Inc. when Uber’s IPO prices on Thursday.

(Updates shares throughout.)

To contact the reporter on this story: Cristin Flanagan in New York at cflanagan1@bloomberg.net

To contact the editors responsible for this story: Catherine Larkin at clarkin4@bloomberg.net, Scott Schnipper

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