Beyond meat (PARND) – Get Beyond Meat Report, Inc. shares surged higher on Thursday following a report suggesting McDonald’s (MCD) – Get the report from McDonald’s Corporation (MCD) is preparing to test one of the plant-based food group’s burgers in American restaurants next month.
CNBC said the McPlant Burger will be offered to customers at eight US outlets at the world’s largest restaurant chain, following the herbal offerings in Europe and the UK.
This move would follow Beyond Meat’s recent marketing agreements with PepsiCo (DYNAMISM) – Get the report from PepsiCo, Inc. and MIAM! Brands (YUM) – Get Yum! Report Brands, Inc. (YUM) whose group hopes to accelerate revenues after a disappointing third quarter, as well as its ongoing distribution partnership with Walmart (WMT) – Get the report from Walmart Inc., the world’s largest retailer.
Shares of Beyond Meat rose 1.5% early in Thursday to change hands to $ 106.60 each.
Beyond Meat posted a larger-than-expected second-quarter loss of 31 cents per share in early August on sales of $ 149.4 million. the summer increase in Delta variant coronavirus infections.
“We believe it is safe to report that due to the recent increase in COVID-19 infection rates from the Delta variant, we are seeing the first signs of a return to a more cautious stance in some parts of the restaurant business, “said the CFO. Philip Hardin told investors on August 6.
Introducing the Latest Herbal Stock to Join the Eat More Plants Boom
Beyond Meat and Pepsi entered into a partnership agreement to produce and market a new line of snacks in late January when they formed PLANeT Partnership LLC, a joint venture that will leverage PepsiCo’s marketing with plant-based food production technology. Beyond Meat.
Earlier this month, Yum! Brands said its Taco Bell division is considering partnering with Beyond Meat for a new herbal product to be tested next year. Late last year, Pizza Hut said it had partnered with Beyond Meat to offer two plant-based meat pizzas for a limited time.