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Why Beyond Meat Stock Soared Today

TheMotleyFool

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Why Beyond Meat Stock Soared Today: https://g.foolcdn.com/editorial/images/753521/grocery-supermarket.jpg

Shares of Beyond Meat (NASDAQ: BYND) were moving higher today after the company reported preliminary third-quarter earnings, announced layoffs and further cost cuts, and lowered its full-year revenue guidance.

While the numbers were worse than prior expectations, the stock still jumped on the news, trading up 16.2% as of 1:22 p.m. ET.

Image source: Getty Images.

Source Fool.com

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