Beyond Meat said Friday it expects third-quarter revenue of about $70 million, topping Wall Street’s forecasts and sending shares soaring in premarket trade. The stock climbed roughly 10%, extending a blistering rally that’s seen prices jump nearly 500% in a week.
The surge has echoes of past meme-stock frenzies, with retail traders driving sharp gains in heavily shorted names. Beyond Meat’s recent run follows a rough stretch for the plant-based food maker, which has struggled with waning appetite for faux meat.
Over the past four years, consumer interest has cooled amid rising inflation, the popularity of weight-loss drugs, and a national pivot toward fresh produce under the “Make America Healthy Again” wave.
The company’s guidance falls within its earlier range of $68 million to $73 million, just above analysts’ $68.9 million estimate, according to LSEG data.
Beyond expects operating costs between $41 million and $43 million for the quarter ending September 27 and flagged a sizable impairment charge.
The rally gained steam after Beyond announced an early settlement with bondholders, swapping new shares and notes to manage its debt load. Investors will get a clearer look when the company reports full results on November 4.
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