Beyond Meat (BYND) Soars 10.5% on Bargain-Hunting

We recently published Small But Savage: 10 Stocks Delivering Outsized Gains. Beyond Meat, Inc. (NASDAQ:BYND) is one of the best performers on Tuesday.

Beyond Meat saw its share prices jump by 10.53 percent on Tuesday to finish at $1.26 apiece as investors resorted to bargain-hunting following five consecutive days of decline.

The stock appears to be testing the $1 territory anew—the minimum bid price requirement of the Nasdaq to stay listed on the exchange, having traded below the said level for several days last month.

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In other news, Beyond Meat, Inc. (NASDAQ:BYND) was earlier slapped with a $40 million penalty by a US court after it found that the company had infringed on a trademark of its rival firm, Vegadelphia.

According to reports citing court documents, Beyond Meat Inc. (NASDAQ:BYND) violated Vegadelphia’s trademark, “Where Great Taste is Plant-Based,” with its own slogan, “Great Taste, Plant-Based.”

In its filing lodged in 2022, Vegadelphia said that Beyond Meat, Inc. (NASDAQ:BYND) could cause confusion among customers.

Meanwhile, the company expressed its disagreement over the court result, saying that it intends to “seek further judicial review of the decision and appeal the verdict.”