Beyond Meat, Inc. (BYND) shares plummeted 24.88% in intraday trading, as investors reacted to the expiration of lockup restrictions on a significant number of shares. The plant-based meat alternative company announced the end of selling restrictions on 316,150,176 shares of common stock, which were issued as part of an exchange offer for its 0% Convertible Senior Notes due 2027.

The lockup expiration, which occurred at 5:00 p.m. New York City time, allows holders who participated in the exchange offer to freely sell or transfer their new shares. This sudden increase in the potential supply of tradable shares has sparked concerns of a potential sell-off, leading to the sharp decline in Beyond Meat's stock price.

The market's reaction was further evidenced by the high trading volume, with options activity nearly triple the daily average. The newly unrestricted shares are expected to be transferred into the company's regular trading CUSIP on October 17, 2025, following standard settlement procedures. As investors digest this news, the stock's volatility may continue in the near term as the market adjusts to the potential increase in share supply.