Beyond Meat's Stock Soars Amid Cost-Cutting Measures and Strategic Shifts

The plant-based meat company announces major cost reductions and price hikes to improve margins and sets revenue expectations for 2024.

Beyond Meat Inc. experienced a significant surge in its stock value, jumping as much as 61% in intraday trading, marking its best one-day move since 2019.
The company announced a major cost-cutting plan and a shift toward a leaner operating structure, following its Q4 financial report.
Beyond Meat's fourth-quarter revenues decreased 7.8% year-over-year to $73.7 million, beating consensus estimates.
The company plans to implement price hikes early in the second quarter to bolster its margins amid slumping sales.
Beyond Meat expects full-year 2024 revenues to be between $315 million and $345 million, with a focus on reducing operating expense and cash use.