Beyond Meat stock gained roughly 8% today, as investors latch on to a potential wide rollout of McDonald’s’s first plant-based burger option – a landmark in fast food and vegetarian awareness alike.
It didn’t take long for investors to react to the latest move by expanding food company Beyond Meat in a cultural shift to widen nutritional horizons and focus on the increased availability of plant-based foods. With such a sizeable gap in the plant-based fast food industry, no wonder bulls took to Beyond Meat today after their McPlant burger is officially being sold in select McDonald’s locations.
The beef substitute burger was officially launched today in at least seven major U.S cities in order to test the success of the product. Unfortunately for Beyond Meat, investors are incredibly wary regarding branding issues and more specifically, the fact that Beyond Meat has no branding ties to the McPlant burger, meaning they could be replaced in the future. However this isn’t the first move for the company; earlier this year they rolled out chicken tenders to U.S supermarkets, with their breakfast sausage roll-out in Canada.
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Investors keen to grab a slice of the plant-based pie should wait until further announcements are made regarding sales and the potential wider roll-out. Beyond Meat are making an early name for themselves, yet the lack of dual branding seems concerning further down the line – unless Beyond Meat is able to adapt to meet an inevitable price battle and the chance of undercutting.
BYND stock is still showing strong daily gains of 7.7%, trading at around $106.78.