Shares of Beyond Meat Rise Despite Potential Problems With This 1 Key Partner
Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) were up 4% as of 2:20 p.m. ET on Thursday, despite a Bloomberg report that called its partnership with Yum! Brands (NYSE: YUM) into question. It would appear investors don't think it's important. However, if the company's partnership with Yum! is truly in jeopardy, it would likely be a bigger deal than people think.
Yum! Brands operates restaurant chains like KFC, Taco Bell, and Pizza Hut. And Beyond Meat has been working with these three chains specifically to create co-branded menu items since February 2021.
When Beyond Meat announced its partnership with Yum!, it was said to be an expansion of its partnership with KFC for Beyond Fried Chicken. However, as Bloomberg reported today, now 17 months later, Yum! has yet to add a Beyond Meat item to the permanent menu.
Source Fool.com
