Beyond Meat stock jumped amid Wall Street optimism; Netflix shares rose after Cowen reiterated its 'Outperform' rating on the stock; and Microsoft finally retired Internet Explorer after more than two decades.

Video Transcript

RACHELLE AKUFFO: Welcome back, everyone. It is time for our triple play, and I'm going to kick us off because I'm a bit hungry with Beyond Meat. We did see the stock rallying today, up about 14%, as it expands its cookout classic pack of patties to over 10,000 retail outlets, just in time, of course, for the 4th of July and the summer peak grilling season. Now Beyond Meat still holds the top spot as the best-selling plant-based meat brand in the refrigerated category.

But inflation has been taking a bite out of Beyond Meat's momentum. And with the average cost of a pound of beef at $3.95 versus $7.29 for a Beyond Meat burger, according to the Good Food Institute, it's a much harder sell for consumers, who are already deciding how to spend their discretionary income.

Now the stock is down more than 60% year to date and more than 82% since the pandemic took hold. But the company is pressing on with its expansion, Beyond Chicken Tenders announced in April, and also stepping up their R&D spending for new products to try and tempt consumers.

SEANA SMITH: Yeah, Rachelle, you mentioned that 60% drop year to date, down significantly from the all-time high. I think that initial excitement that we saw in Beyond Meat certainly starting to wane. It'll be interesting to see how big of a boost this actually provides the company.

They certainly have been doing a good job, just in terms of getting their product into more stores and reaching, certainly, strategic partnerships that make sense. Yet, investor interest still is not there. You mentioned the fact that it's down 60% year to date. So we'll see whether or not this flips the Wall Street's view of the stock. I'm just not sure that it's going to do it.

All right, moving on, my play today is Netflix. Shares climbing after Cowen reiterates its outperform rating on the stock. You can see shares up just about 7 and 1/2%. In this call, it's all about advertising opportunity. A recent Cowen survey suggesting that a Netflix ad-supported tier, which we've talked about many times here in this show, they're saying that it makes a lot of sense. And it could add about 4 million Netflix members in the US and in Canada next year.