Shares of faux-meat maker Beyond Meat (BYND -1.03%) jumped 3.5% in trading on the Nasdaq as of 1:10 p.m. EST Tuesday after the company announced a big expansion of its product offerings for sale in Walmart (WMT -11.38%) stores.
As Beyond Meat explained, starting this week, more than 400 Walmarts will begin carrying Beyond Sausage Hot Italian vegetable-based sausage, and approximately 500 Walmarts will expand carriage of Beyond's "Cookout Classic value pack."
This is Walmart's second expansion of its Beyond Meat offerings in the past year, notes Beyond Meat, and there's still room for more growth. Even viewed in the most expansive light, no more than 900 (and probably just 500 or so) Walmarts increased the number of Beyond Meat products pursuant to this announcement. That's just a small fraction of the "approximately 2,400 Walmart locations nationwide" that currently retail Beyond Meat's products. In turn, those 2,400 are barely half the nearly 4,800 Walmarts operating in the U.S., and barely one-fifth of all Walmarts operating around the world.
That's a big opportunity for Beyond Meat to grow into, and based on how quickly, and how often, Walmart has expanded its relationship with the company already, it looks like Beyond Meat is doing a good job of capitalizing on the opportunity.
Investors should be pleased.