Beyond Meat (BYND) Stock Jumps 10% After 1-for-30 Reverse Stock Split to Meet Nasdaq Rules
TLDR
- Beyond Meat stock rose over 10% after completing a 1-for-30 reverse stock split on Friday.
- The split was done to stay above Nasdaq’s $1.00 minimum bid price requirement before the August 31 deadline.
- Every 30 existing shares were consolidated into one, with authorized shares cut from 3 billion to 100 million.
- TD Cowen analyst Robert Moskow raised his price target to $15, based on the same 2x EV/sales valuation.
- BYND trades near its 52-week low of $12.00, and TipRanks signals rate it a Sell on a one-day timeframe.
Beyond Meat (BYND) jumped over 10% on Friday after officially completing its 1-for-30 reverse stock split. The stock was up 12.69% to $13.76 at time of publication, trading near its 52-week low of $12.00.
The split became effective late Thursday night, with split-adjusted trading starting at Friday’s open under the same BYND ticker.
Under the terms, every 30 existing common shares were automatically consolidated into one share. Fractional holdings were rounded up to the nearest whole share.
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