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Why Beyond Meat Stock Jumped 22% in November

Why Beyond Meat Stock Jumped 22% in November

Shares of Beyond Meat (NASDAQ: BYND) were sizzling in November as the stock heated up after a long slump. Investors were encouraged by news of layoffs and further cost cuts in its third-quarter earnings report, and the stock also benefited from the broader market gains, as interest rates appears to have peaked and inflation is slowing. As the chart shows, Beyond Meat stock soared on Nov. 2, gaining 18.4% after it gave a disappointing preliminary earnings report for its third quarter, but said that it would slash costs again.