Why Beyond Meat Stock Rose 10.4% in May
What happened
Shares of Beyond Meat(NASDAQ:BYND), the leading maker of plant-based meat substitutes, gained 10.4% in May, according to data from S&P Global Market Intelligence. Shares were down until the last week of the month, when an upgrade by a Wall Street analyst and presumably some buying from the Reddit meme-stock crowd sent shares surging.
For context, in May, the S&P 500 index returned 0.7%.
Thanks to last month’s rise, in 2021, shares of Beyond Meat (which held its initial public offering…
