US Stock Movement | Beyond Meat fell over 17%, after surging 112% during intraday trading yesterday
On Thursday, the stock price of the first artificial meat company Beyond Meat plummeted, falling over 17% to $2.955 as of the time of writing. Yesterday, the stock had surged 112% at one point during the trading session but subsequently erased all gains, ultimately closing down 1.1% at $3.58. On Wednesday, over 2 billion shares of Beyond Meat changed hands, making it the second most traded stock in the U.S. market, with options trading volume also reaching an all-time high. This surge was triggered by the company's announcement on Tuesday that Walmart would expand its product distribution to over 2,000 stores, including the newly launched six-pack "value pack." The week prior, Beyond Meat had just announced a debt swap agreement that significantly diluted shareholder equity, causing the stock price to briefly fall below $1 and hit a historic low of $0.52 on October 17
According to Zhitong Finance APP, on Thursday, the first artificial meat stock Beyond Meat (BYND.US) saw its share price plummet, dropping over 17% to $2.955 as of the time of writing. The stock had surged 112% during intraday trading yesterday but subsequently erased all gains, ultimately closing down 1.1% at $3.58.
On Wednesday, over 2 billion shares of Beyond Meat changed hands, making it the second most traded stock in the U.S. market, with options trading volume also hitting a record high. This surge was triggered by the company's announcement on Tuesday that Walmart would expand its product distribution to over 2,000 stores, including the newly launched six-pack "value pack." The week prior, Beyond Meat had just announced a debt swap agreement that significantly diluted shareholder equity, causing the stock price to briefly fall below $1 and hit a historic low of $0.52 on October 17
