Beyond Meat to launch its new Beyond Beef product later this week, and the stock promptly rises
Beyond Meat Inc., the maker of plant-based meat products, said Wednesday it’s launching its new ground Beyond Beef product later this week, sending its stock higher in early trade.
Beyond Meat already offers a Beyond Burger, that’s already formed into a patty, plus Beyond Sausage and Beyond Beef Crumbles. Its products are available at restaurant chains, including TGI Fridays, Del Taco, Bareburger, Carl’s Jr. and A&W.The stock has been on a tear, ever since the company went public in early May. The stock is trading at $155.20, more than six times its IPO price of $25, giving it a market capitalization of more than $9 billion.
See this: Del Taco now has a vegetarian burrito — what consumers need to know about meatless fast food’s cost and calorie count
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