Why Beyond Meat Stock Skyrocketed on Wednesday
Shares of Beyond Meat (NASDAQ: BYND) were sizzling on Wednesday, up by as much as 61.2% in early trading. As of 11:42 a.m. ET, the stock was still up by 44.1%.
The catalyst that sent the maker of plant-based meat substitutes higher was the fourth-quarter report it delivered Tuesday after the close, which was something of a mixed bag.
For the quarter, Beyond Meat's net revenue declined by 7.8% year over year to $73.7 million. The bad news traveled down the income statement, resulting in a net loss of $155.1 million, or a loss per share of $2.40.
Source Fool.com
