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Beyond Meat Doubles Value on Day One

Stockhouse Editorial
1 Comment| May 3, 2019

Beyond Meat had a solid debut on Wall Street, to say the least.

NASDAQ:BYND closed up 163 per-cent on its first day of trading. The growing popularity of plant-based food is paying off for the vegan burger maker, who is valued at nearly $3.8 billion (USD), more than twice its value from the day before. Its shares hit $72 then closed at $65.75.

Beyond Meat has been making headlines with restaurants and grocery outlets lining up to sell its products. The BBC took a closer look into its financial situation. Beyond Meat’s net revenue was $87.9 million last year, 170% higher than 2017.

Nielsen Retail Sales Data reported that U.S. sales of plant-based meats jumped 42 per-cent between March 2016 and March 2019 to a total of $888 million.


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