Some big news has dropped onto the plate of investors today regarding the plant-based meat market. Industry leader Beyond Meat (NASDAQ:BYND) stock is moving quite in morning trading. With sizzling hot stories floating around about Beyond and its competitors, investors should be monitoring the stock with interest today.
Tuesday afternoon was a busy one for the faux-meat industry as a whole. First, Beyond had inked a deal that partners the company with the likes of Taco Bell of Yum Brands (NYSE:YUM) and McDonald’s (NYSE:MCD). Beyond CEO Ethan Brown says that through these deals, the company has, “an opportunity to transition from niche market to mainstream stature.”
Considering the success of the Burger King (NYSE:QSR) Impossible Whopper, it’s not unreasonable to believe that a well-done marketing campaign can broaden the reach of plant-based meats. The deals supplement the Beyond deal with PepsiCo (NASDAQ:PEP) from back in February, which on its own brought a 20% increase to shares. Naturally, a partnership with two fast food titans will also cause movement.
Secondly, Tuesday saw competition between plant-based meat companies heating up via Impossible Foods’ newest TV campaign. The private company launched the ads in the afternoon. They are the first national spots for the company, and some of the first for the burgeoning industry as a whole. The ads are attributed to BYND stock’s movement as well. The campaign is doing a lot to bring meat alternatives to the mainstream. And since Impossible is not yet publicly traded, investors are turning to BYND.
BYND Stock and Growth in China
The most recent news has done much to expand Beyond’s global reach, and it might be the biggest reason for the stock’s movement this morning.
In a Wednesday morning press release, Beyond announced the opening of a new manufacturing facility in China. It says the Shanghai facility will vastly accelerate the production and distribution of Beyond products in the region. Additionally, the plant will produce Beyond’s new plant-based pork product, exclusive to China. The announcement reaffirms a commitment to expanding the Beyond brand in Asian markets.
As of this morning, BYND stock was up as much as 4%.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.