Shares of Beyond Meat (BYND) leaped more than 80% in active trading Tuesday after the U.S. plant-based meat maker announced plans to expand distribution into Walmart stores.

Beyond Meat said some of its products, including its "Beyond Burger 6-pack" and "Beyond Chicken Pieces," will be available in 2,000 Walmart stores nationwide. The company's shares jumped as high as $2.91 following the news, giving it a market value of about $1.5 billion and putting it on track for a fivefold surge from last Thursday's close of 52 cents.

More than 1.2 billion Beyond Meat shares changed hands on Tuesday. The stock is one of the most watched on Stocktwits, a platform popular among amateur traders.

Five out of eight analysts covering Beyond Meat rate the stock "sell" or "strong sell" while three recommend holding it, with a median price target of $2.42 per share, according to LSEG data.