Shares of Beyond Meat, Inc. (BYND) surged 8.21% in after-hours trading on Monday, as investors eagerly anticipate the company's delayed third-quarter earnings report. The plant-based meat producer is set to release its financial results following the market close, after postponing the announcement from last week.
The significant after-hours rally comes amid heightened interest in Beyond Meat on social media platforms, which has driven the stock's visibility in recent weeks. In October, Beyond Meat became the fifth most-searched ticker on Benzinga Pro, reflecting growing retail investor attention. Additionally, the stock's inclusion in the recently relaunched Roundhill Meme Stock ETF (MEME) as its fifth-largest holding has further fueled interest.
Analysts expect Beyond Meat to report third-quarter revenue of $68.96 million, down from $81.01 million in the same period last year. The company's preliminary guidance suggests revenue between $68 million and $73 million, potentially beating expectations. Investors will be closely watching for updates on debt levels, future financing plans, and strategies to increase sales demand. However, without strong guidance or positive future commentary, the recent meme stock rally could lose momentum, making this earnings report crucial for Beyond Meat's short-term stock performance.