New 'Ground Beef' Product
Boosts Beyond Meat Shares Shares of Beyond Meat are up more than
550% since the company went public in May 2019. According to CNN, a 10% spike in share values is being credited to the company’s recent announcement of a new ground beef product. The plant-based meat company
confirmed it would be releasing the
new product to grocery stores on June 24. The meat will contain pea protein, mung bean
protein and brown rice proteins, which will give
it the same culinary versatility as ground beef. The rise in shares is also being credited to
Beyond Meat’s partnership with companies
such as Tim Hortons and Carl’s Jr. When Tim Hortons first announced
their Beyond breakfast sandwiches in
June, Beyond Meat's stock went up 16%. JPMorgan analysts believe Beyond Meat’s
stocks could rise 30% if they secure a
partnership with McDonald’s. The plant-based meat alternative
market is estimated to be worth
$140 billion in the next decade.