Beyond Meat (NASDAQ:BYND) stock is on the move today as investors react to news of Yum Brand’s (NYSE:YUM) KFC adopting plant-based fried chicken.
Let’s sink our teeth into this news with all the details below!
- KFC will start carrying the Beyond Meat fried chicken on Monday.
- The launch includes all of its locations across the U.S.
- However, the offering will only be allowed for a limited time.
- Menu options will include a combo meal, as well as the ability to order just the plant-based fried chicken in six- or 12-piece varieties.
- Beyond Meat and KFC are counting on customers trying to meet New Year’s resolutions to buy the plant-based products.
- Plant-based meat alternatives have a reputation as being better than just eating meat.
- The two companies believe this will draw in customers despite the Omicron pandemic potentially hurting business.
- It’s worth noting that this isn’t the first time that plant-based fried chicken has been on KFC’s menu.
- The company has tested out the products in select locations prior to the nationwide rollout.
- Another factor worth mentioning is that Yum Brands and Beyond Meat have been working together on plant-based alternatives for two years now.
- That comes from a deal to develop such options for consumers at Pizza Hut, KFC, and Taco Bell.
BYND stock is doing well today on the KFC news. As of this writing, more than 4.7 million shares of the stock have changed hands. That’s above the company’s daily average trading volume of about 3.3 million shares.
BYND stock is up 2.5% as of Wednesday morning.
Investors looking for more stock news today are in the right place!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.