Beyond Meat shares surge 146% after expanded Walmart deal and MEME ETF addition

It’s been a wild two days for Beyond Meat investors, with shares jumping over 146% after falling to a record low earlier this month. 

On Tuesday, the battered plant-based meat company said it will expand its distribution deal with Walmart, the nation’s biggest retailer. 

“At a time when many households are navigating rising food prices, we’re pleased to introduce our new Beyond Burger value pack — the same great-tasting burger at a lower price point, delivering 21g of protein, no cholesterol, and only 2g of saturated fat from heart-healthy1 avocado oil per serving” said Ethan Brown, founder and CEO of Beyond Meat. The deal also includes Beyond Chicken Pieces and Beyond Steak Korean BBQ-Style. 

Ahead of the Walmart announcement, the company recently disclosed a debt swap deal which reduced company debt but diluted the share count, Barron’s reporting TD Cowen saying “the company remains financially and operationally challenged.”

Beyond Meat shares traded below $1.00. 

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In addition, on Monday, shares were added to Roundhill Investments’ MEME exchange-traded fund which launched earlier this month, as reported by FOX Business. 

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The ETF tracks stocks that can experience heavy trading from retail investors when there may not be concrete news. 

“New Addition Alert: Beyond Meat $BYND has been added to the Roundhill Meme Stock ETF $MEME” the firm posted on X. 

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The firm advised that investors can use the ETF “whether as a momentum-driven trade for those seeking to ride retail enthusiasm, or as a hedge against a short book,” which are bets a stock will fall. 

MEME includes a new crop of speculative stocks; Opendoor Technologies, Plug Power, Applied Digital Corp, Hims & Hers Health, Quantum Computing and Bloom Energy, to name a few.