Vegans rejoice!
Shares of plant-based meat company Beyond Meat Inc. soared another 13% Tuesday, bringing the stock’s post-IPO gains to a stunning 240%, after Bernstein initiated coverage with a bullish outperform rating.
“Restaurant chains are finding that they can draw customers just because they have this meat alternative, so that’s another appeal ,” said Smith.Related: Beyond Meat CEO wants to make traditional protein from animals ‘obsolete’ If Beyond Meat could secure a 5% share of that market—it has a 2% stake today—it would imply sales of $2 billion in 2028, compared with about $207 million this year.
Impossible Foods, the privately owned company behind the Impossible Burger that Burger King QSR, -0.07% is selling, is Beyond Meat’s biggest rival for now, although that’s unlikely to remain the case for long. Other smaller players in the space include Boca Foods, Field Roast Grain Meat Co., Gardein, Impossible Foods, Lightlife, Morningstar Farms and Tofurky.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Beyond Meat prices IPO at $25 per share: SourceThat's above the company's original expected range between $19 and $21 per share. The high end of the previous range would have valued the company as high as $1.21 billion.
Read more »
Beyond Meat, plant-based food company, surges more than 130% after IPOPea protein is the main ingredient of Beyond Meat products, designed to replicate the taste and texture of animal-based foods.
Read more »
Cramer: Beyond Meat will IPO for $25 a share — buy it below $35 after its debut'At the midpoint of its current price range, Beyond Meat's going to be very expensive — it's already trading at 17-times last year's sales,' Jim Cramer says.
Read more »
Beyond Meat prices IPO at $25 per shareBeyond Meat is pricing at $25 a share, at the top of an already boosted range. This makes the plant-based meat substitute company another unicorn to test the public waters.
Read more »
Beyond Meat prices IPO at $25 a share, valued at almost $1.5 billionBeyond Meat Inc. priced its initial public offering at $25 a share Wednesday evening, the high end of a range that had been increased. The plant-based meat...
Read more »
Beyond Meat sees lots of green for its IPO - Reuters TVMeatless burger company Beyond Meat, which boasts investors Bill Gates and Leonardo DiCaprio, soared at its debut on the NASDAQ Thursday.
Read more »
Burger King and Beyond Meat say plant-based burgers aren't eating into meat salesThe meat-substitute maker's customers keep buying animal protein, while the fast-food chain's Impossible Whopper hasn't eaten into Whopper sales.
Read more »
Beyond Meat IPO flips into FOMO territoryThe plant-based burger firm’s stock almost tripled on its market debut. The desire for food that’s tasty, green and ethical is real, and investors are clamoring for a bite. But such big first-day pops are often driven by a fear of missing out that longer-term returns cannot sate.
Read more »
Beyond Meat soars 163% in biggest-popping U.S. IPO since 2000Beyond Meat’s market cap jumped from about $1.5 billion Wednesday night to about $3.8 billion Thursday afternoon.
Read more »
Beyond Meat raises the price range for its IPOPlant-based meat substitutes have been gaining popularity as more attention is focused on the environmental hazards of industrial ranching.
Read more »
Fed dashes rate-cut hopes | Musk buys Tesla stock | Beyond Meat prices IPOFutures point to a mixed open following a Wednesday decline that saw the S&P 500 close lower after hitting an all-time intraday high.
Read more »