US Stock Market Move | Beyond Meat(BYND.US) is on the rise again! Stock price surged over 23%

On Tuesday, the stock price of the newly popular "Meme stock" Beyond Meat (BYND.US) rose, with the stock up over 23% to $2.22 as of press time. The stock had dropped by 23.06% last Friday. On the news front, the company expects third quarter revenue to be around $70 million, slightly higher than analyst expectations and in line with previous guidance. However, this expected revenue is down 13% from the same period last year, highlighting the continued soft demand for its plant-based products. Beyond Meat also expects gross profit margins for this quarter to be between 10% and 11%, a figure that includes $1.7 million in expenses due to the suspension of most of its operations in China. Operating expenses are expected to be in the range of $41 million to $43 million, with around $2 million being non-recurring expenses covering legal fees, retention plan costs, and lease termination costs. BTIG analyst Peter Saleh commented that the consistently low gross profit margins and high operating expenses once again hinder profitability. In a recent report, he stated, "We maintain a wait-and-see stance because we do not see any signs of a recovery in sales trends, the company has made no progress in achieving a sustainable financial position, and cash burn may be worse than last year. Additionally, the recent completion of a convertible bond financing has significantly diluted equity, indicating a tough financing environment for the company."