Why Beyond Meat Stock Jumped 11% on Wednesday
Beyond Meat (NASDAQ: BYND) shareholders beat a rising market on Wednesday. Shares jumped 11% by 11:40 p.m. ET, compared to a 0.8% boost in the S&P 500. That rally erased just a small portion of recent losses that investors have seen in the plant-based protein specialist's stock. Shares remain down over 60% so far in 2022.
Wednesday's price jump appeared to be powered by a slight rebound in optimism on Wall Street following several tough weeks in the market.
Beyond Meat did make an announcement this week revealing expanded distribution for its value pack of plant-based burger patties. The product is aimed at satisfying demand for meat alternatives during the approaching grilling and cookout season.
Source Fool.com
