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Beyond Meat Shares Soar on Planned Walmart Distribution

Reuters
Oct 22

NEW YORK, Oct 21 (Reuters) - Shares of Beyond Meat soared 43% after leaping more than 146% on Tuesday after the U.S. plant-based meat maker announced plans to expand distribution into Walmart stores.

Beyond Meat said some of its products, including its "Beyond Burger 6-pack" and "Beyond Chicken Pieces," will be available in 2,000 Walmart stores nationwide.

The company's shares jumped as high as $3.86 following the news, giving it a market value of about $1.5 billion.

More than 2 billion Beyond Meat shares changed hands on Tuesday. The stock is one of the most watched on Stocktwits, a platform popular among amateur traders.

Five out of eight analysts covering Beyond Meat rate the stock "sell" or "strong sell" while three recommend holding it, with a median price target of $2.42 per share, according to LSEG data.

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