Beyond Meat Sizzles to All-Time High Ahead of Earnings
Beyond Meat (BYND) shares hit another all-time high Tuesday, topping out at $208.48, ahead of the company's earnings release on Monday.
The stock was giving back some of its gains, but was still trading up 2.06% to $198.20 at midday Tuesday.
Shares of the plant-based protein product maker previously hit a record high of $201.88 on June 18.
The company has jumped a whopping 700% since its initial public offering on May 1. Beyond Meat's current valuation is just shy of $12 billion.
Wall Street expects the company to report a loss of 8 cents per share on revenue of $52.7 million. This will be the company's second public release. The stock jumped more than 20% after it issued its first earnings report as a public company.
Last month, the company launched its Beyond Beef product to much investor fanfare. The launch sent the stock rising 5%.
The product "allows consumers to enjoy all the culinary versatility of ground beef, with the added nutritional and environmental benefits of eating plant-based meat," Ethan Brown, Beyond Meat's founder and CEO, said in a statement.
The company touted Whole Foods, Harris Teeter, Safeway, Stop & Shop and other retailers as partners willing to sell the product.
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