Beyond Meat Stock Surge Following Walmart Expansion
Beyond Meat investors have had quite the rollercoaster recently. The stock skyrocketed over 146% after hitting all-time lows earlier this month.
| ticker | security | last | change | change % |
|---|---|---|---|---|
| bind | Beyond Meat Co., Ltd. | 3.62 | +2.15 | +146.26% |
| WMT | Walmart Co., Ltd. | 106.22 | -0.81 | -0.76% |
On Tuesday, the once-struggling plant-based meat producer revealed it would expand its distribution deal with Walmart, the largest retailer in the U.S.
“In these times, when many families are facing increasing grocery prices, we’re thrilled to present the new Beyond Burger Value Pack. This pack offers the same delicious burgers at a more affordable price, containing 21g of protein, zero cholesterol, and just 2g of saturated fat in avocado oil per serving,” stated Ethan Brown, the Founder and CEO of Beyond Meat. This deal also encompasses Beyond Chicken Pieces and Beyond Steak Korea BBQ-Style.
Before this announcement from Walmart, Beyond Meat had also introduced a debt exchange plan aimed at easing its debt burden while diluting its stock count. A recent report indicated that the company is still grappling with financial and operational challenges.
Not so long ago, Beyond Meat’s stock price was below $1.00.
ETF Developments
Moreover, shares were added to Round Hill Investments’ MEME exchange-traded fund recently launched. This fund focuses on stocks that are likely to see heavy trading from retail investors, even without any substantial news backing them.
“Newly added alert: The other side of meat. $BYND added to Round Hill Meme Stock ETF $MEME,” the company shared on social media.
ETF Usage Insights
| ticker | security | last | change | change % |
|---|---|---|---|---|
| meme | Round Hill ETF Trust Meme STK ETF | 9.58 | -0.23 | -2.34% |
Investors were informed that this ETF might serve as a “momentum trade for those looking to capitalize on the retail craze, or as a hedge against shorts expecting stock declines.”
The MEME ETF also includes various speculative stocks like Opendoor Technologies, Plug Power, Applied Digital Corp, and more. It seems there’s plenty of movement in the market, keeping investors on their toes.
