Why Beyond Meat Stock Was on Fire on Wednesday
Shares of Beyond Meat (NASDAQ: BYND) surged sharply higher Wednesday, jumping as much as 11.7%. As of 11:08 a.m. ET, the stock was still up 6%.
The catalyst that sent the maker of plant-based meat substitutes higher was word the company will begin a long-awaited test in partnership with a major fast-food chain.
Taco Bell, a division of Yum! Brands (NYSE: YUM), announced Wednesday that, in partnership with Beyond Meat, the company is unveiling a "first-of-its-kind" vegetarian-friendly meat option -- Beyond Carne Asada Steak. The pair will begin testing the new plant-based protein at about 50 Taco Bell locations in Dayton, Ohio, beginning Oct. 13.
Source Fool.com
