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Investing.com — Beyond Meat (NASDAQ:BYND) jumped 12% Tuesday after the plant-based food maker announced a “major” expansion with Walmart (NYSE:WMT).
The “Cookout Classic” plant-based burger value pack, which was introduced in 800 stores this summer, will be rolled out to more than 2,400 locations starting next week. Beyond Meat says the offering is its most affordable product to date.
It’s the latest in a rolling series of recent announcements by the El Segundo, California-based company. This month alone, Beyond doubled distribution of its breakfast sausage patties, introduced meatballs and announced it would build production facilities in China.
Investors can’t get enough of it, and shares have more than doubled since January. It doesn’t take much for investors to react favorably, either. Walmart already announced the Beyond burger expansion in its stores during its earnings conference call on Aug. 4.
Most analysts, on the other hand, seem to think things have gotten out of hand. Just two rate the stock a buy, while seven say hold and six recommend sell.
Beyond Meat first launched its frozen products at Walmart in 2015. The company’s products are available at approximately 112,000 retail and foodservice outlets in 85 countries.
