Why Beyond Meat Stock Surged 22% Higher in September
Shares of Beyond Meat (NASDAQ: BYND) went up 22.2% in September, according to data provided by S&P Global Market Intelligence. The good news just kept coming throughout the month, sending the stock all the way to new 52-week highs.
If you're a young company like Beyond Meat, increasing distribution is a primary goal. Some consumers are still unfamiliar with plant-based proteins, so increasing distribution helps build awareness and boost adoption. Furthermore, it helps your business achieve efficiencies of scale. Beyond Meat announced new distribution deals in September, including tripling its distribution in Walmart stores.
Image source: Getty Images.
Source Fool.com
