Beyond Meat's stock soars on word that McDonald's is testing ‘P.L.T.’ burger
Shares of Beyond Meat Inc. soared Thursday, after McDonald’s Corp. said it was testing a plant-based burger made by the company in Canada.
Beyond Meat’s stock BYND, -3.27% shot up 13% in active premarket trading, and McDonald’s shares MCD, +0.29% gained 0.2%. “McDonald’s has a proud legacy of fun, delicious and craveable food—and now, we’re extending that to a test of a juicy, plant-based burger,” said Ann Wahlgren, McDonald’s vice president of global menu strategy. “We’ve been working on our recipe and now we’re ready to hear feedback from our customers.”
Don’t miss: Beyond Meat is a ‘disrupter’ as plant-based meat industry sales poised to reach $100 billion.In July, Dunkin’ Brands Group Inc. DNKN, -0.15% said it would add a plant-based dining option from Beyond Meat to menus in Manhattan, and Del Taco Restaurants Inc. TACO, -1.32% said in June that it will offer two new burritos containing Beyond Meat’s plant-based protein.
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