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Beyond Meat Faces Setback As Carl’s Jr. And Del Taco Drop Products: Report

Beyond Meat faces challenges as Carl's Jr. and Del Taco reportedly drop its plant-based beef due to declining sales. Most of Carl's Jr.'s 1,000+ locations stopped offering the Beyond Burger, initially launched in 2019. Del Taco also ceased Beyond Meat offerings in nearly 600 locations. Despite this, Beyond Meat is hopeful, banking on new product developments and pricing strategies to regain consumer interest.

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Why Beyond Meat’s Stock Is Roaring Higher

In June of 2021, Beyond Meat had a market capitalization of just under $10 billion which has dropped to approximately $516 million at present. The stock has fallen nearly 90% since 2021. Beyond Meat shares are moving on heavy trading volume amid the rally with more than 11.45 million shares already traded in Tuesday's session, compared to the stock's 100-day average of 3.655 million shares.

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