Beyond Meat Inc (NASDAQ:BYND) shares are surging Monday afternoon, trading sharply higher on heavy volume even though the company has not issued any fresh news or filings.
The move comes as meme favorite GameStop trends on social platforms, potentially drawing traders back into heavily shorted consumer names. Here’s what investors need to know.
- BYND is among today’s top performers. Get the latest updates here.
What To Know: Beyond Meat remains a turnaround story after a difficult third quarter. The plant-based meat maker recently reported revenue of $70 million, down roughly 13% year-over-year as weaker demand and lower pricing pressured results.
U.S. retail and foodservice sales declined double digits, while international foodservice showed only modest growth. The company also posted a wider-than-expected loss and guided fourth-quarter revenue to a range of $60 million to $65 million, below Wall Street estimates near $70 million.
Those results sent Beyond Meat tumbling more than 30% over the past month, before Monday’s sharp reversal, and left the shares technically oversold heading into the Thanksgiving period. The stock also bounced modestly last week as consumer-staples peers rallied, but Monday’s outsized gain suggests renewed speculative interest rather than a shift in fundamentals.
With short interest elevated and sentiment still fragile after the earnings disappointment, Beyond Meat may be catching a sympathy bid from traders rotating into volatile, high-beta names alongside GME. Investors will be watching this week to see if the momentum can persist without company-specific catalysts.
Benzinga Edge Rankings: Beyond Meat holds a low Benzinga Edge Momentum score of 2.31, with short-, medium- and long-term price trends all flagged as negative.
BYND Price Action: Beyond Meat shares closed Monday up 36.48% at $1.34, according to Benzinga Pro data.
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How To Buy BYND Stock
Besides going to a brokerage platform to purchase a share — or fractional share — of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, Beyond Meat is in the Consumer Staples sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
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