Why Beyond Meat Stock Popped Today
Shares of Beyond Meat (NASDAQ: BYND) climbed nearly 5% on Tuesday, as investors grew more optimistic about the meat alternative company's growth prospects.
Beyond Meat's stock has been on fire since the plant-based food provider reported earnings on May 5. Investors cheered the company's 141% surge in revenue and unexpected profitability, which came even as many restaurants have been forced to close during the coronavirus crisis.
Beyond Meat was able to offset the impact of COVID-19 on its restaurant-based sales by rapidly expanding its grocery business. And with many restaurants gearing up to reopen as states begin to ease stay-at-home restrictions, Beyond Meat's restaurant revenue could soon receive a boost.
Source Fool.com
