Beyond Meat Inc (NASDAQ:BYND) shares are trading higher Friday morning, continuing a 23% surge since Monday morning, after the plant-based food company announced an expansion of its new Beyond Immerse sparkling protein drink line. Here’s what investors need to know.
Beyond Expands Limited-Time Drink Line
In a press release late Thursday, the El Segundo, Calif.–based company said it is adding four limited-time flavors — Cherry Berry, Strawberry Lemonade, Piña Colada and Cucumber Grapefruit — to the beverage, which combines plant protein, fiber, antioxidants and electrolytes.
The drinks, offered in 10-gram and 20-gram protein varieties with 7 grams of fiber and 60 or 100 calories, are sold exclusively through the company's Beyond Test Kitchen platform.
Beyond Meat Earnings Due March 10
Investors are also looking ahead to Beyond Meat's next earnings report, due March 10. Wall Street currently expects the company to post a quarterly loss of 11 cents per share on revenue of about $63 million, with trailing 12-month revenue near $291 million.
BYND's gains Friday appear to suggest traders are betting the new beverage initiative, and the upcoming earnings update, could help revive sentiment toward the beaten-down food products name.
BYND Shares Climb Friday
BYND Price Action: Beyond Meat shares were up 23.17% at $1.01 at the time of publication on Friday, according to Benzinga Pro data.
Image: Courtesy of Beyond Meat
