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Shares of Beyond Meat, Inc. (BYND) are surging more than 60 percent in pre-market at $12.14, after the plant-based meat maker's CEO announced plans to turn around the business, including price hikes and and cost cuts.
Beyond Meat plans to increase profit margins both by reducing costs and raising prices.
After seven consecutive quarters of revenue declines, Beyond Meat executives say they hope to turn the corner in 2024 with new product innovations, SKU rationalization, and price increases, but the company's fourth quarter and full-year results show more obstacles for the plant-based leader.
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World stocks dipped on Wednesday amid a spate of disappointing earnings reports, as investors also await US and euro zone inflation data
The stock of Beyond Meat (BYND) is up 70% after the company announced an aggressive cost-cutting plan. The company that makes artificial meat products, including hamburger patties, said it plans to “steeply reduce” its operating expenses in the ...