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Investing.com -- Beyond Meat (NASDAQ:BYND) stock rose over 60% Tuesday after the company announced it would expand distribution of select plant-based meat products to over 2,000 Walmart stores nationwide.
The surge follows an already impressive rally, with shares up approximately 180% over the past three days amid market speculation of a potential short squeeze in the stock. Tuesday’s announcement appears to have fueled further momentum in the shares.
Beyond Meat said Walmart will be among the first national retailers to offer its new Beyond Burger 6-Pack, which packages the company’s latest burger version in a value format. The expanded distribution will include three products: the Beyond Burger 6-Pack, Beyond Chicken Pieces, and Beyond Steak Korean BBQ-Style.
"We are proud to expand our distribution at Walmart, providing more consumers with access to Beyond’s clean and nutritious plant protein products," said Ethan Brown, founder and CEO of Beyond Meat. "Moreover, 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-healthy avocado oil per serving."
The company highlighted that its fourth-generation Beyond Burger provides 21 grams of protein per serving and contains no GMOs or cholesterol. Similarly, the Beyond Chicken Pieces offer 21 grams of protein per serving, while the Beyond Steak Korean BBQ-Style product delivers 20 grams of protein per serving.