Beyond Meat Shares Jump After Walmart Triples Beyond Burger Locations

Shares of Beyond Meat (BYND) are moving higher after the company announced an expansion in its relationship with Walmart (WMT).

Walmart plans to triple availability of the Beyond Burger from approximately 800 locations to more than 2,400 stores nationwide beginning next week, Beyond Meat said in a statement.

Beyond Meat first launched its frozen products at Walmart in 2015. Since then, Walmart has expanded its Beyond Meat in-store offerings to include the Beyond Burger and Beyond Sausage in the fresh meat aisle and most recently, the Beyond Breakfast Sausage patties in the freezer aisle, the company noted.

Shares of Beyond Meat are up 7%, or $10.20, to $161.50 in premarket trading.