Beyond Meat’s shares jumped to 21%, still going strong for three consecutive days. The stock was able to reach its all-time high earlier at $186.43 per share.
Beyond Meat, maker of the plant-based meat substitute has soared around 600% from their initial public offer price of $25 each share. It has surged 39% on Friday when the company’s beyond expectation earnings in first-quarter has reported.
XRT, an S&P Retail ETF got 0.8% higher, caused retail stocks to leap. The gaming company, GameStop, has announced that it would buy a maximum of 12 million shares back, gained 8%. On the other hand, Shutterfly was able to go up 7%. However, it went down to 2% when it was reported that Apollo Global Management is leading to acquire the company. GameStop and Shutterfly are two of the XRT leaders.
United Technology shares had declined 3%, and Raytheon only stepped up less than 1% after they have announced their merger to become an aerospace and defense giant. It is going to be the U.S. second-largest defense and aerospace company by revenue next to Boeing. The companies’ estimated merged annual sales are nearly $74 million. It is going to be called Raytheon Technologies.
Tableau Softwares’ shares surged more than 33% when Salesforce.com announced that it would acquire the giant data company for $15.3 billion. The deal is going to be the biggest purchase in the history of Salesforce, looking to offer additional data awareness to its customers. On the other hand, the shares of Salesforce plummet 5%.
Tilray, a Canadian cannabis company, rose more than 11% in shares. It is because they have announced that they had made an agreement with Privateer Holdings, an independent equity fund, selling the fund’s stake slowly within the next couple of years.
Privateer, a weed company, is backed by Peter Thiel, a venture capitalist. It has 75 million Tilray’s shares, around 77% of all the shares.
The Shares of Redfin, a real-estate company that runs online, had gained above 7% when Stephens enhanced the stocks from underweight to overweight and increased its goal price from $18 to $23. According to Stephens, the business is starting to “lay the groundwork for more e-commerce type” marketings in the industry of real estate.
The Analog Devices’ shares had jumped more than 5% when Goldman Sachs changed the chipmaker from sell to buy. Goldman revised its one-year target price to $114 for Analog. The stock had gained 21% when the bank added Analog on its sell listings that made Goldman decided its sell thesis “has not worked.”