These 2 Nasdaq Standouts Jumped 20% Tuesday Afternoon

Investors seemed content to coast on their past success on Tuesday, with most major market benchmarks not straying too far from where they began the day. The Nasdaq Composite (NASDAQINDEX: ^IXIC) continued to move higher, but the pace of those gains was slow. As of 2:30 p.m. EST, the Nasdaq rose about a sixth of a percentage point.

Two Nasdaq stocks in particular managed to produce amazing gains on Tuesday afternoon. Beyond Meat (NASDAQ: BYND) drove its gains thanks to the potential from a brand new partnership opportunity. Meanwhile, Nikola (NASDAQ: NKLA) climbed on hopes that it will benefit from a new policy from the federal government.

Shares of Beyond Meat climbed as much as 40% on Tuesday before settling back to a roughly 20% gain in afternoon trading. The company announced a new alliance with PepsiCo (NASDAQ: PEP), and investors are excited about what the new brand exposure could mean for the plant-based meat provider.

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Source Fool.com