Beyond Meat (BYND) closed slightly lower as investors await delayed Q3 earnings on Nov. 10. Revenue is expected to be around $69 million, with a quarterly loss of $0.43 per share. The stock is trading over 80% below its late October high.

Options data suggests high volatility post-earnings, with an implied move of 30.07%, indicating a potential trading range of $0.97 to $1.80. Traders anticipate a sharp reaction to earnings amid uncertainty about the company’s financial health.

Downside risk is more likely for Beyond Meat due to cash burn, declining demand, and tough competition. The company’s penny stock status makes it vulnerable to manipulation and pump-and-dump schemes. Wall Street rates BYND as a ‘Moderate Sell’ with price targets suggesting over 40% downside potential.

Read more at Barchart: Options Traders Bet Beyond Meat Stock Could Move 30% When It Posts Delayed Q3 Earnings This Week