US Stock Price Fluctuated | This year intends to cut costs significantly. Beyond Meat (BYND.US) surged over 47%.

On Wednesday, Beyond Meat's stock price (BYND.US) soared, rising over 47% to $11.17 by the time of publication. This was after Beyond Meat announced that its fourth quarter revenue for 2023 exceeded expectations, reaching $73.7 million, thanks to strong demand for its plant-based burgers in key markets outside the US. The company stated that it will further adjust its pricing strategy in 2024 to enhance its market competitiveness. Facing soft demand in the US market, Beyond Meat has been collaborating with fast-food chains like McDonald's and Yum! Brands by lowering prices and offering discounts to increase its market share of plant-based burgers. Furthermore, the company has successfully maintained high demand for plant-based meat in international markets like Europe, demonstrating the effectiveness of its globalization strategy. Cost-cutting measures such as layoffs implemented last year have also effectively alleviated the pressure on profit margins due to sluggish demand in the US market. Beyond Meat's CEO, Ethan Brown, recently stated that the company will further reduce operating expenses and cash usage in 2024.