Beyond Meat (NASDAQ:BYND) news for Tuesday includes an expanded deal with Walmart (NYSE:WMT) that has BYND stock on the rise.
Source: Sundry Photography / Shutterstock.com
Here’s what to know about the news boosting BYND stock up today.
- Beyond Meat’s Beyond Burger is currently available at 800 Walmart locations.
- The new expansion will have Walmart increasing the number of locations with the plant-based burger to 2,400.
- That expansion goes into place next week.
- The reason for the increase is due to the success of the Cookout Classic value pack that was launched at Walmart this summer.
- This product was Beyond Meat’s most affordable offering and allowed more people to try its fake burgers.
- Beyond Meat notes that the expanded offer of the Beyond Burger is part of a larger plan to bring its products to more consumers.
- The company is quickly moving toward that goal with it being the number one brand in refrigerated plant-based meat.
- Beyond Meat also has other products available at Walmart.
- That includes its Beyond Sausage and Beyond Breakfast Sausage patties.
Chuck Muth, chief growth officer at Beyond Meat, said the following about the Walmart news boosting BYND stock.
“Walmart has been a terrific partner and we’re excited to strengthen that partnership in depth and breadth as we look to offer more Beyond Meat products at more Walmart locations, furthering our commitment to increasing accessibility of plant-based meat.”
BYND stock was up 10% as of Tuesday afternoon.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
