Here's Why Beyond Meat Rose 22.3% in July
Shares of Beyond Meat (NASDAQ: BYND) gained over 22% last month, according to data provided by S&P Global Market Intelligence. The stock claimed an all-time high of $239 per share in anticipation of second-quarter 2019 operating results -- and they didn't disappoint. Shares have dropped to around $180 per share in the first few days of August following a stock offering at $160 per share.
The animal-free protein developer continued its impressive growth in Q2 2019, delivered its first-ever quarter of profitable operations, and raised its full-year 2019 revenue outlook. Beyond Meat exited June with $277 million in cash, which gives it plenty of financial power to invest in new product launches, expanded manufacturing capacity, and scaled-up supply chains.
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