Beyond Meat shares surge 146% after expanded Walmart deal and MEME ETF addition

It’s been a tough couple of days for Beyond Meat investors, with shares jumping more than 146% after falling to a record low earlier this month.

The hard-hit plant-based meat company said Tuesday it would expand its distribution deal with Walmart, the nation’s largest retailer.

“At a time when many households are struggling with rising food prices, we’re excited to offer the new Beyond Burger Value Pack – the same great-tasting burger at a lower price, offering 21 grams of protein, no cholesterol, and just 2 grams of saturated fat from heart-healthy avocado oil per serving,” said Ethan Brown, Founder and CEO of Beyond Meat. The deal also includes Beyond Chicken and Korean BBQ-style Beyond Steak.

Before Walmart’s announcement, the company recently unveiled a debt swap deal that reduced the company’s debt but diluted its equity count, with T.D. Cowen, in a Barron’s report, saying, “The company continues to face financial and operational challenges.”

Shares of Beyond Meat were trading at less than $1.00.

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Additionally, shares were added Monday to Roundhill Investments’ MEME exchange-traded fund that launched earlier this month, FOX Business reported.

Meme Stock Mania 2.0

The ETF tracks stocks that can see heavy trading from retail investors when there is no concrete news.

“New Addition Alert: Beyond Meat $BYND has been added to Roundhill Meme Stock ETF $MEME” the company posted on X.

BLACKROCK BRAGGING RIGHTS IN FASTEST GROWING ETFS

The company advised that investors can use ETFs “either as a momentum-based trade for those seeking to ride retail enthusiasm, or as a hedge against a short book,” which are bets that a stock will decline.

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MEME includes a new group of speculative shares; Opendoor Technologies, Plug Power, Applied Digital Corp, Hims & Hers Health, Quantum Computing, and Bloom Energy, to name a few.