Beyond Meat (BYND) is having another meme moment, even though the fundamentals of its business are anything one could call as sizzling as a plant-based burger fresh off the grill.
Shares of the struggling fake meat maker have gained nearly 600% over the past three trading sessions. The gains appear poised to continue on Wednesday, with shares rising 133% in premarket trading.
Over the stretch, the company’s listing page has been among the most active on the Yahoo Finance platform (see also Yahoo Finance Community Insights box below).
There appear to be two catalysts behind the rise.
On Tuesday, Beyond Meat said its “Beyond Burger 6-pack” and Beyond Chicken Pieces” will be available in 2,000 Walmart (WMT) stores nationwide.
And second, on Monday the stock was added to the Roundhill Meme Stock ETF (MEME).
The trading activity comes at a tumultuous time for the former high-profile initial public offering that was once valued at $14 billion after an IPO in 2019 (today $1.4 billion).
Last week, the company announced a debt swap deal in a bid to cut about $800 million in debt. Beyond Meat will receive $202.5 million in debt due 2030 in exchange for debt due 2027. The company will issue bondholders up to 326 million shares, diluting existing shareholders.
Second-quarter sales fell 19.6% from a year earlier to $75 million, driven by a drop in volume. The company was once again hit by a perfect storm: weak demand at retail establishments and weak demand at fast food outlets. Beyond Meat’s operating loss amounted to $34.9 million.
The company chose to lay off 6% of its workforce. He had two rounds of layoffs in 2024 amid poor results.
“Stabilizing the portfolio and driving operating leverage are the key factors to achieving positive EBITDA in H2 ’26. The company is shrinking to survive: cutting costs, reviewing strategy and trying to rebuild distribution. Innovation is shifting towards protein, fiber and clean labels/offerings. The balance sheet needs to improve. Progress will be judged quarter by quarter. quarter,” said Jefferies analyst Kaumil. Gajrawala.
Brian Sozzi is the executive editor of Yahoo Finance and a member of Yahoo Finance’s editorial leadership team. Follow Sozzi on X @BrianSozzi, instagramand LinkedIn. Story tips? Send an email to brian.sozzi@yahoofinance.com.
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