Beyond Meat (NASDAQ:BYND) experienced a dramatic 56% drop in its stock price on October 13, 2025, following the announcement of a convertible debt exchange. The company plans to issue 316 million new shares to reduce leverage, causing significant shareholder dilution. This move sent the stock to a 52-week low of $0.8450. The exchange, which saw nearly 97% of noteholders' participation, involves converting $1.1 billion in 2027 notes into new 2030 notes and up to 326 million shares. The announcement led to a trading volume surge, with 82 million shares changing hands, nearly 17 times the average, as investors reacted to the dilution news.