Plant-based meat producer Beyond Meat Inc (NASDAQ:BYND) has had a pretty chaotic run over the past few months.
After having hit a high of $194.95 a share back in October last year, the Beyond Meat stock tanked by as much as 30.79% and is now trading at just over $135 a share. However, it should be noted that the company has launched Beyond Burger 3.0 and in light of a new product launch, it is fair to wonder if it might result in a rebound in the stock.
The company has stated that Beyond Burger 3.0 is not only cheaper than the previous iterations of the product but also healthier. Beyond Meat has revealed that this version will have to be lighter on fat by 6 grams than the previous one, protein is going to be the same and there are going to be 50 fewer calories. Additionally, it is going to cost $10 for a four-back, which works out to $2.50 each. The previous iteration sold at $4 each.
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