Beyond Meat and plant-based movement
Beyond Meat has already grabbed the attention of a ton of people as a successful company that produces plant-based substitutes for meat. In fact, the company marked the biggest IPO of the year.
Going by the ticker name BYND, the California based company which was founded in 2009 became one of the hottest topics of 2019 as its initial public offering was the most successful of the year. The sales of the company continue to increase and it is attracting many top food-chains as its clients. KFC is one among them.
On the first trading day itself, Beyond Meat’s share price soared 163% and the demand for the stocks continued to grow. During the first month of its listing, Beyond Meat boasted peak returns of 800% and most of the investors remain to be bullish on the growth potential of the company.
One thing to note is that the plant-based movement is not everyone’s cup of tea. However, according to Forbes, the sales of plant-based foods grew by 11.3% in 2019, although there are people that are not too optimistic about plant-based meat substitutes. They claim that these foods fall under the processed food category. That being said, Beyond Meat obtained the non-GMO verification.
“We feel a deep commitment to uphold our customer’s trust and provide them with clean, plant-based proteins without the ingredients we know they are increasingly uncomfortable with, including GMOs,” said founder and CEO of Beyond Meat, Ethan Brown.
(Reference: Forbes, Beyond Meat, ETF Trends, CNBC, Markets Insider, Investing.com)
(Image source: Beyond Meat)