Beyond Meat claimed to have engineered “a better way to feed the planet” and investors agreed. After launching on the Nasdaq stock market early Thursday, plant-based protein company Beyond Meat saw its stock price surge to $62, up from its initial public offering of $25 a share. It is the first plant-based meat alternative company to go public on a major exchange.
The building blocks of Beyond Meat’s products are protein, which they derive from peas, mung beans, and brown rice. The company uses beets and pomegranate juice to provide their burgers with a typically meaty appearance. Coconut oil and potato starch are added to regulate the texture. Up until recently, meat giant Tyson Foods had a 6.5 percent ownership stake in Beyond Meat, before selling the shares in order to develop its own line of plant-based products, according to Axios.
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