Beyond Meat shares have skyrocketed since Oct. 16, jumping more than 146% on Oct. 20 in their best trading day ever, according to CNBC.
The surge followed Roundhill Investments’ decision to add the plant-based meat maker to its Roundhill Meme Stock ETF and news of an expanded Walmart distribution deal. Once a Wall Street favorite trading above $230 after its 2019 initial offering, Beyond Meat had fallen to just 50 cents before the rally.
Despite persistent sales declines and debt struggles, renewed retail-trader enthusiasm has revived the stock’s meme status. As of Oct. 22, shares were trading at slightly above $4.
