Let's take a look at three stocks in particular that investors should steer clear of in 2024: Beyond Meat (NASDAQ: BYND), ChargePoint (NYSE: CHPT), and C3.ai (NYSE: AI). Like a lot of electric vehicle companies, ChargePoint stormed onto the public markets through a SPAC in 2020 with high hopes of being a leader in an emerging industry.
The plant-based meat specialist's stock was down 29% through early December even as the wider market rallied. A lot has changed in that period, but the most impactful shift has been weaker consumer demand for plant-based meat alternatives.
Investors should be prepared for Beyond Meat to cease to exist as it does today over the next five years.