Beyond Meat (NASDAQ:BYND) stock is getting a boost on Wednesday after the plant-based meat alternative company announced a new generation of Beyond Burgers and Beyond Beef.
A press release from the company notes that this is the fourth generation of its plant-based alternatives to beef. This new generation of Beyond Burgers is healthier than the priors while still focusing on mimicking the taste of natural beef.
Ethan Brown, founder and CEO of Beyond Meat, said the following about its fourth-generation products:
“The development of the new products occurred within an ecosystem of leading medical and nutrition experts, and were designed to meet the standards of national health organizations to create a product that delivers the taste, satisfaction, and utility of 80/20 beef – yet is demonstrably healthier.”
What This Means for BYND Stock
Beyond Meat is likely hoping that these new products will revitalize interest in its plant-based meat alternatives. Demand for these types of products has been declining recently as consumers care less about fake beef, which has had a negative effect on BYND stock.
BYND stock is up 2.4% as of Wednesday morning but has been down 10% since the start of the year. Investors will also note that BYND shares are down 55.1% over the last 12 months.
There are plenty of other stock market stories traders are going to want to read up on below!
We have all of the hottest stock market news ready to go on Wednesday! Among that is what’s happening with shares of Walgreens (NASDAQ:WBA) stock, an Nvidia (NASDAQ:NVDA) teamup and Solaredge Technologies (NASDAQ:SEDG) stock is down today. You can read up on all of these topics at the following links!
More Wednesday Stock Market News
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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.
