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Beyond Meat Stock Spikes Higher on Expanded Distribution Deal

TheMotleyFool

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Beyond Meat Stock Spikes Higher on Expanded Distribution Deal

Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) spiked higher on Tuesday morning after the company announced an expanded distribution deal with one of the largest retail chains in the world, Walmart (NYSE: WMT). Previously, the company's products were available at 800 Walmart locations; starting next week, they'll be sold at 2,400 of its stores.

Investors don't care that Beyond Meat stock has already more than doubled year to date. Today they're celebrating this Walmart deal by sending shares even higher. As of 10 a.m. EDT, Beyond Meat stock was up 11% and hitting a new 52-week high.