Beyond Meat Wipeout Called by Kazakh Who Nailed Facebook IPO
- Dire warning from afar about a high-flier on Wall Street
- The analyst from Almaty sees risk in veggie competition
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In the world of high finance, Erlan Abdikarimov is as small-time as they come. A 30-year-old stock analyst, he plies his trade in Kazakhstan, where he advises investors about local companies and initial public offerings in the U.S.
So when Abdikarimov came out last week with a dire warning on Beyond Meat Inc., predicting shares would plunge, no one on Wall Street took much notice. Beyond Meat, after all, is the hottest IPO the U.S. market has seen in more than a decade, having more than tripled since its May 1 debut. Who was this guy to throw cold water?