Plant-based foods purveyor Beyond Meat (NASDAQ:BYND) is making headlines, but it’s not all positive news. For one, Beyond Meat’s COO was recently arrested for allegedly biting a man at a sporting event. The company suspended the COO as a result. Thankfully, though, there’s also good news to report; Beyond is now collaborating with Yum! Brands (NYSE:YUM) to try out a vegetarian-friendly Taco Bell menu item. BYND stock is spiking higher today as traders do their best to make sense of these developments.
It seems that Beyond Meat’s meatless products are everywhere nowadays. In fact, many consumers are turning to faux beef and chicken for both health and ethical reasons. You just never know where you might see — or taste — Beyond Meat’s products next.
Perhaps it was inevitable, then, that Taco Bell would feature Beyond Meat-enhanced menu items sooner or later. That time has come, as the two companies are teaming up to offer customers Beyond Carne Asada Steak. The company’s press release provided a timeline and locations for interested consumers:
“The plant-based protein, which primarily consists of vital wheat gluten and faba bean protein, will be tested at about 50 Taco Bell locations in the Dayton, Ohio area starting October 13 before a wider rollout to follow if the test goes well.”
BYND Stock Rose Despite an Executive’s Ouster
Apparently, the Taco Bell collab has been enough to distract BYND stock traders from dumping their shares today. The stock is currently up by almost 4%.
Somehow, investors are willing to shake off an odd and ugly piece of news. Even folks who don’t trade stocks have heard about this one; Beyond Meat COO Doug Ramsey was arrested over the weekend for allegedly biting someone’s nose at a college football game.
It seems that today’s BYND stock traders are concurring with InvestorPlace contributor Dana Blankenhorn’s assessment of the situation: “The arrest of Ramsey will make Beyond a punchline for comedians, but he’s not the company’s problem.” In other words, the Taco Bell tie-in is much more consequential than one executive’s actions.
As a result, Beyond Meat investors are enjoying some delicious profits today. Hopefully, there won’t be any more worrisome news items in the company’s future, either.
On the date of publication, David Moadel did not hold (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.
