Beyond Meat Stock Skyrockets 74% on Revenue Beat and 2024 Plan to "Steeply" Cut Costs
BYNDBeyond Meat(BYND) The Motley Fool·2024-02-28 20:27

Beyond Meat (BYND 0.94%) stock skyrocketed 73.5% in Tuesday's after-hours trading, following the plant- based meat substitute maker's release of its fourth-quarter 2023 report. This sharp rise is largely attributable to the quarter's revenue exceeding Wall Street's consensus estimate, and the company's plans to "steeply reduce" costs in 2024, in the words of CEO Ethan Brown. These factors would not usually propel a stock up a whopping 74%, but price movements tend to be magnified for stocks with very high s ...