It’s been a wild week for Beyond Meat investors, with shares jumping over 1,248% just this week after falling to a record low earlier this month.
On Tuesday, the battered plant-based meat company said it will expand its distribution deal with Walmart, the nation’s biggest retailer.
“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-healthy 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 reported, with TD Cowen saying, “the company remains financially and operationally challenged.”
Beyond Meat shares traded below $1.
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In addition, on Monday, shares were added to Roundhill Investments’ MEME exchange-traded fund, which launched earlier this month, as reported by FOX Business.
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.
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The firm said 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.
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.
Original article source: Beyond Meat, Walmart and a MEME ETF
