Beyond Meat is taking its Beyond Meatballs to Australia.
Courtesy Beyond Meat
Bed Bath & Beyond and Beyond Meat might have pushed Monday’s meme frenzy with their own upbeat news.
Bed Bath & Beyond (BBBY) official launched Our Table line, a private label collection of kitchenware. The home goods retailer has been introducing a number of its own brands in the past few month months as part of CEO Mark Tritton ‘s new strategy.
The stock soared more than 40% last week when Bed Bath announced that Our Table and two other brands would be hitting the shelves. Shares were up 10.5% to $35.04 in midday trading.
Bed Bath was one of the stocks caught up in the initial short squeeze back in January. At the time smaller investors, often organizing on social media, snapped up shares of stocks that were out of favor on Wall Street, leading to big swings. With a relatively quiet market, the meme trade is once again in the limelight, for better or worse.
Beyond Meat (BYND) announced that its Beyond Meatballs will be available in Australia for the first time, via its partnership with supermarket operator Coles. The faux meat maker noted that demand for plant-based protein doubled in the past year and continues to grow. The company’s shares were also trading up—5.7% to $153.81.
Beyond Meat fits a lot of the criteria to be considered a meme stock, as Barron’s has noted, and was on a wild ride earlier this year. The stock has picked up steam lately, although that has also come at a time of more traditional catalysts as well, including one bear turning bullish and an expansion of its product lineup with KFC China.
Write to Teresa Rivas at [email protected]
