Franchise News
Beyond Meat Shares Rise 135% in Market Debut
Plant-based meat alternatives are gaining traction among consumers and are growing into a formidable challenger to the meat industry as a result.
As more consumers turn to meat alternatives to maintain healthier diets and reduce their impact on the environment, companies that produce plant-based meat alternatives are reaping the benefits, Beyond Meat among them. When the company made its public market debut on Thursday, its shares soared 135%, raising its market value to $3.52 billion.
“We’re just looking forward to building the business, and I think the reaction from the market is a reflection of the fact that we’re highly focused on collapsing the gap between our products and animal protein,” Beyond Meat CEO Ethan Brown told CNBC.
Brown said that as his company grows, it isn’t focused on the competitors in the marketplace like Impossible Foods, a company that has recently struggled to keep up with demand for its product; rather, Beyond Meat has its sights set squarely on cutting into the market share of the $1.4 trillion global meat industry.
Read the full story here.
Image source: Beyond Meat.
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About the Author
Madeline Lena
FollowMaddie has spent her career in the media industry, serving in various editorial roles before migrating into a hybrid content strategy and PR role with No Limit Agency. Her passion for storytelling and love of writing help her create meaningful content on behalf of her clients and fulfill No Limit Agency’s mission to tell people-driven stories.
Maddie is a graduate of Saint Louis University, where she studied Communications with a focus in journalism and media studies as well as Sports Business. In her spare time, Maddie can be found exploring Chicago’s food scene, watching an NBA game or lamenting over her middling fantasy baseball team.
