Beyond Meat Sets 1-for-30 Reverse Split to Hold Onto Its Nasdaq Listing

Beyond Meat will be implementing a 1-for-30 reverse stock split in an effort to boost its stock price above the minimum level required by Nasdaq to maintain its listing on the exchange. The split will take effect on August 13, with shares trading on an adjusted basis starting on August 14 under the same BYND ticker. This move comes as the company's stock has been trading below $1 for most of 2021, prompting the need to take action before the August 31 deadline set by Nasdaq.

The reverse split, approved by shareholders in November, will not change the overall value of investors' stakes, but will increase the per-share price. Beyond Meat hopes that this action will help to maintain its Nasdaq listing and position the stock for long-term investor participation. This move reflects the company's efforts to navigate challenges within the plant-based meat industry and consolidate its shares to meet exchange requirements.