Beyond Meat, plant-based food company, surges more than 130% after IPO

Beyond Meat, the maker of meat substitutes, generated nearly $88 million in revenue last year, more than double what it earned in 2017, but has yet to turn a profit. By Hamza Shaban Hamza Shaban Technology reporter Email Bio Follow May 2 at 1:01 PM California-based Beyond Meat skyrocketed in first-day trading, opening 84 percent higher than the top of its IPO range, amid a surging market for meat-like meal options.

The company generated nearly $88 million in revenue last year, more than double what it earned in 2017, but has yet to turn a profit. For the past two years, it has lost roughly $30 million. “We are focused on continually improving our products so that they are, to the human sensory system, indistinguishable from their animal-based counterparts,” the company said in a recent filing with U. S. Securities and Exchange Commission.

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Vegan burger company Beyond Meat's IPO sizzles - Reuters TVVegan burger maker Beyond Meat, which counts Microsoft founder Bill Gates and actor Leonardo DiCaprio among its investors, on Wednesday priced its initial public stock offering at $25 per share, the top of its anticipated range in a reflection of brisk investor demand. TV not as good as impossible burger but it is vegan TV I was very curious about it. Tried it once. Disgusting. nocleanmeat for me. But thanks. TV How very eco-friendly to pack only two patties in one disposable plastic container
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