Overview
- Shares spiked more than 1,300% over several days before reversing, leaving the stock down roughly 77% from its monthly peak, according to the latest coverage.
- Inclusion in Roundhill’s new Meme Stock ETF and an expanded Walmart distribution announcement ignited the rapid retail-driven rally.
- The company disclosed preliminary third-quarter revenue of about $70 million, a decline of roughly 14% from a year earlier.
- Beyond Meat recently converted debt into equity and disclosed the expiry of lock-up restrictions on about 316 million newly issued shares, adding to supply overhang concerns.
- Management engaged AlixPartners and trimmed headcount by approximately 6% as part of broader cost-cutting efforts.