BYND - What's Going On With Beyond Meat Stock Thursday? | Benzinga
Beyond Meat Inc (NASDAQ:BYND) shares are trading lower Thursday following a report suggesting the company's liquidity position has weakened.
What To Know: After the market close on Wednesday, a Wall Street Journal report surfaced indicating Beyond Meat reached out to a group of bondholders to start discussions about a potential restructuring of its balance sheet. Beyond Meat shares immediately began moving lower.
People familiar with the matter reportedly said the group of bondholders own some of Beyond Meat's $1.1 billion of convertible notes and are working with law firm Akin Gump Strauss Hauer & Feld on the matter.
Beyond Meat shares have been largely trending lower since the summer of 2021 as the company continues to burn through cash. The plant-based meat company had $173.5 million in cash and cash equivalents as of March 30.
In Beyond Meat's most recent earnings report, ...