Beyond Meat has initiated a one-for-30 reverse stock split to boost its share price and hold onto its Nasdaq listing, a move that has initially sent its stock tumbling to an all-time low.
A week after reporting a sixth consecutive quarter of revenue decline, Beyond Meat has now registered its lowest stock price in seven years as a public company.
The plant-based giant’s share price fell to 41 cents at market close on Wednesday (August 12), triggered by its announcement of a reverse stock split.
The firm, now also known as Beyond The Plant Protein Company, is looking to retain its listing on the Nasdaq stock exchange, which issued a deficiency letter in March after the BYND stock registered below $1 for 30 consecutive business days.
It gave Beyond 180 days to regain compliance with the Minimum Bid Price Requirement, which would entail its stock price closing above $1 for a minimum of 10 straight business days.
But as the August 31 deadline approaches, the company has failed to do this, forcing it to initiate a stock split that will see every 30 shares turned into one, with the per-share price elevated without affecting anyone’s overall stake.
From meme stock, to delisting warning, to reverse split
Beyond completed its IPO to much fanfare back in 2019, with its peak valuation reaching $14B on the Nasdaq Global Select Market. Today, it has a market cap of just $212M.
Over the last year, its stock has fallen by 85%, recording several all-time lows. Its share price fell to 52 cents in October, triggered by a debt restructuring deal that sought to wipe out over $800M of the company’s debt.
Prior to the transaction, it had $1.15B in debt, thanks to 0% convertible notes maturing in 2027. Under the new exchange offer, this was swapped for higher-interest 7% notes that are due in 2030. Days later, online traders fuelled a meme-stock-inspired rally, leading to a 1,000% climb and sending its share price to $3.62 at one point.
That didn’t last long, with Beyond’s stock floating around $1 at the beginning of this year. And despite the letter from the Nasdaq Listing Qualifications Department, its stock has remained below that minimum threshold for much of 2026. In fact, Beyond has only managed three consecutive days of a closing bid price above $1, and four days in total.
The reverse stock split is intended to help regain compliance with Nasdaq’s minimum requirements. It will become effective late today (August 13), with shares expected to begin trading on a split-adjusted basis at market open tomorrow. The number of authorised shares of common stock will reduce from three billion to 100 million, with a similar shift occurring in the shares of capital stock.
The conversion rates of Beyond’s outstanding convertible notes, the number of common shares issuable when outstanding warrants are exercised, and the shares subject to outstanding equity awards under its incentive plans, will be proportionately adjusted to their respective terms.
Beyond Meat’s sales continue to slide
“We believe the reverse stock split is an important step toward maintaining our Nasdaq listing and better positioning our stock for long-term investor participation,” said Beyond founder and CEO Ethan Brown.
Reverse-splitting shares rarely comes from a position of strength, but the strategy can potentially improve market perception and will get Beyond comfortably over the line to keep its public listing.
If its stock closes the day at the same price of 41 cents today, the reverse stock split would mean it will begin trading at around $12.30 per share when the market opens on Friday.
This artificial stock price boost follows several years of decline for what was once a Wall Street darling. Since closing 2021 with its best-ever revenue total of $464.7M, Beyond has only experienced a quarterly sales hike three times, the last of which came at the end of 2024.
In 2025, its sales plunged to $275.5M, its lowest as a public company. And in the first half of this year, its net revenue has fallen by a further 11.6%, totalling just $127M. That has forced a pivot into the protein drinks segment with Beyond Immerse, though its impact is still too early to tell.
The reverse stock split is likely to keep Beyond on the public market, but whether it will boost the market’s perception of the company and get more people to buy its plant protein products remains to be seen.
