Why Beyond Meat Stock Jumped Today

Shares of Beyond Meat (NASDAQ: BYND) climbed on Tuesday after the meat alternatives company said it would build a cutting-edge production facility in China. As of 1:45 p.m. EDT, Beyond Meat's stock was up more than 8%.  

Beyond Meat (Jiaxing) Food, a subsidiary of Beyond Meat, reached an agreement with the Jiaxing Economic & Technological Development Zone (JXEDZ) to build a new to plant-based food manufacturing facility near Shanghai.

"With its expertise in the food industry, proximity to Shanghai, and excellent logistics and people capabilities, the JXEDZ will be the perfect partner and location for our ambitious plans for the China market," Candy Chan, General Manager for Beyond Meat in China, said in a press release.

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Source Fool.com