Beyond Meat Rallies 10.5% as Bargain Buyers Step In

Overview

• The stock rose 10.53% on Tuesday to close at $1.26 after five consecutive declines.
• Traders framed the move as bargain-hunting with the price retesting the $1 threshold for Nasdaq listing compliance.
• Beyond Meat was assessed a $40 million penalty in a trademark case brought by rival Vegadelphia.
• Court documents state the slogan “Great Taste, Plant-Based” infringed on Vegadelphia’s “Where Great Taste is Plant-Based.”
• The company said it disagrees with the decision and plans to seek further judicial review and appeal.