Shares of fake meat company Beyond Meat soar as market tanks

The El Segundo, California-based company makes "plant-based meat" products now sold at Safeway, Whole Foods and featured on the menus of Carl's Jr., Del Taco and TGIF among others.Ethan Brown, founder and CEO of Beyond Meat, prepares to ring the opening bell to celebrate his company's IPO at the Nasdaq Market site in New York, May 2, 2019.

Shares in Beyond Meat were up more than 8% in late-day trading on a rough day that saw the Dow, Nasdaq, and S&P 500 all down more than 2%. The spike followed a "buy" rating, which set a price target around $81. The stock is currently trading around that price. Bernstein analyst Alexia Howard noted that the newly public company faces some competition in Impossible Burger and forthcoming products planned by Nestle and Tyson. But the fact that Beyond Meat has already mastered mass-manufacturing of its non-GMO, plant-based products gives the Southern California company an edge.

Alternative protein products, which are generally higher-priced than their traditional counterparts at major restaurant chains today, may become more appealing budget-wise in the near future, due to global food safety concerns."The African Swine Fever situation in China could drive global meat prices up sharply, across pork, beef and chicken.

Beyond Meat priced its initial public offering at $25 a share last week on Wednesday, and raised at least $240 million at an initial valuation slightly shy of $1.5 billion. The company has notched the

Ford did not tank. It was up a penny.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Beyond Meat CEO: We're focused on the meat industry, not other vegetarian optionsOn Thursday, Beyond Meat made its public market debut on the Nasdaq, trading under the symbol 'BYND.' Any true VEGAN looks at $BYND's product and throws up/Any non VEGAN looks at $BYND's product - and throws up. A real winning combination- NOT $BYND stock is at $60 for one reason only. SCAM erica's BIGFATUGLYBUBBLE is 10000% more bloated than SCAM erica's BIGFATUGLY people
Source: CNBC - 🏆 12. / 72 Read more »

Beyond Meat gets first buy rating as Bernstein sees 'alternative meat' industry worth $40 billionThe alternative meat industry could be worth $40.5 billion in the next decade Bernstein said in a note on Tuesday. Hey AOC , here is an excellent example of letting business find the alternative to your cow meat issues. I highly recommend you research financials, & capitalism rather than your police unforced plans of SocialismKills for success in America. Ok, but I treat meat specially (don't like to put it in a bad spot--trash).
Source: CNBC - 🏆 12. / 72 Read more »

Vegan burger maker Beyond Meat sizzles in market debutShares of vegan burger maker Beyond Meat Inc surged 84 percent in their market d... Country doomed. This is just another way to poison us & thin the herd! Modified Non Meat doesn't sound appetizing! 🤮🤮🤮 ❤
Source: Reuters - 🏆 2. / 97 Read more »