Shares of Beyond Meat rose 39% on Friday, one day after its first post-IPO earnings report and about a month after going public. The company now has a market cap of $8.28 billion, according to Google Finance.
The stock hit a high of $149.46 a share in late-day trading before closing at $138.65. That’s more than double where it landed after its first day of trading in early May.
Yesterday, the company reported $40.2 million in quarterly revenue, topping estimates of $38.92 million cited by Yahoo Finance, and it projects full-year revenue will reach past $210 million.