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It’s been a wild two days for Beyond Meat investors, with shares jumping over 146% after falling to a record low earlier this month.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BYND | BEYOND MEAT INC. | 3.62 | +2.15 | +146.26% |
| WMT | WALMART INC. | 106.22 | -0.81 | -0.76% |
On Tuesday, the battered plant-based meat company said it will expand its distribution deal with Walmart, the nation’s biggest retailer.
Engineered plant-based burger patties from food company Beyond Meat are visible on shelves among other meat alternatives at a grocery store in San Ramon, California, August 28, 2019. (Photo by Smith Collection/Gado/Getty Images / Getty Images)
“At a time when many households are navigating rising food prices, we’re pleased to introduce our new Beyond Burger value pack — the same great-tasting burger at a lower price point, delivering 21g of protein, no cholesterol, and only 2g of saturated fat from heart-healthy1 avocado oil per serving” said Ethan Brown, founder and CEO of Beyond Meat. The deal also includes Beyond Chicken Pieces and Beyond Steak Korean BBQ-Style.
Ahead of the Walmart announcement, the company recently disclosed a debt swap deal which reduced company debt but diluted the share count, Barron’s reporting TD Cowen saying “the company remains financially and operationally challenged.”
Beyond Meat shares traded below $1.00.
THE ETF REPORT: LATEST NEWS AND ANALYSIS
In addition, on Monday, shares were added to Roundhill Investments’ MEME exchange-traded fund which launched earlier this month, as reported by FOX Business.
MEME STOCK MANIA 2.0
The ETF tracks stocks that can experience heavy trading from retail investors when there may not be concrete news.
“New Addition Alert: Beyond Meat $BYND has been added to the Roundhill Meme Stock ETF $MEME” the firm posted on X.
BLACKROCK’S BRAGGING RIGHTS TO FASTEST-GROWING ETFS
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| MEME | ROUNDHILL ETF TRUST MEME STK ETF | 9.58 | -0.24 | -2.47% |
The firm advised that investors can use the ETF “whether as a momentum-driven trade for those seeking to ride retail enthusiasm, or as a hedge against a short book,” which are bets a stock will fall.
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MEME includes a new crop of speculative stocks; Opendoor Technologies, Plug Power, Applied Digital Corp, Hims & Hers Health, Quantum Computing and Bloom Energy, to name a few.
