By Christiana Sciaudone
Investing.com -- On top of spaghetti, you can now enjoy plant-based meatballs.
Beyond Meat (NASDAQ:BYND) bounced almost 7% after announcing Beyond Meatballs, which will roll into grocery stores nationwide this week. They are pre-seasoned, pre-rolled and ready to cook -- sold in the fresh meat section. The meatball is the third new retail product introduced this year.
For the lucky ones who did not pack up and desert New York City and Los Angeles during the pandemic, Beyond Meat will be offering the balls at one-day pop-up shops in those cities.
Shares of the plant-based meat purveyor are up 90% in 2020, but down 36% from a peak in July 2019, two months after the company went public.
It's been a busy summer for Beyond Meat, which announced sales starting in Canada as well as plans to manufacture in China.
The stock has two buy ratings, nine holds and five sells. Baird was the most recent firm to initiate coverage with a buy rating last week, according to data compiled by Investing.com.