Why Beyond Meat Stock Is 5% Higher Today
Shares of Beyond Meat (NASDAQ: BYND) were rising 5% in morning trading on Monday after reports surfaced that the plant-based meat alternative company was expanding its product selection in Australia.
What seems to have everyone excited is that Beyond Meat is introducing its plant-based meatballs in Coles, the second largest supermarket chain in Australia with over 2,500 stores.
In its first-quarter earnings conference call last month, CEO Ethan Brown said Australia was one of a number of countries in which it had secured distribution gains. Along with the U.K., Austria, Switzerland, and Germany, Beyond Meat is adding 2,400 new retail outlets for its products.
Source Fool.com
