Shares of Beyond Meat, Inc. (BYND) are soaring 5.04% in Tuesday's pre-market trading session following the announcement of a significant partnership with Hard Rock Cafe. This positive development comes as a welcome change for the plant-based meat company, which has faced recent challenges in the market.

The collaboration, revealed early Tuesday, will see Hard Rock Cafe offering Beyond Meat's latest Beyond Burger (Beyond IV) as a swap option for any beef burger on its menu across all North American company locations. This move not only expands Beyond Meat's reach but also provides plant-based and health-conscious consumers with more dining options at the iconic restaurant chain.

The timing of this partnership is particularly crucial for Beyond Meat, as it follows a period of difficulty for the company. Just yesterday, Beyond Meat's stock plummeted 16% after delaying its third-quarter financial results, citing the need for more time to calculate a material non-cash impairment charge related to certain long-lived assets. The company's stock has seen a dramatic decline from its peak of nearly $240 per share in 2019 to less than $2 recently, representing a potential loss of up to 99% for some shareholders.

Investors appear to be reacting positively to this new partnership, viewing it as a potential catalyst for Beyond Meat's recovery and growth. The collaboration with a globally recognized brand like Hard Rock Cafe could significantly boost Beyond Meat's visibility and sales, potentially helping to reverse its recent market struggles. As the plant-based meat market continues to expand, with retail sales growing from $800 million in 2019 to a projected $10.2 billion in 2025, Beyond Meat's strategic partnerships may play a crucial role in capturing a larger share of this growing market.