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Why Beyond Meat Was a Winner Today

TheMotleyFool

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Beyond Meat (NASDAQ: BYND) closed 3.6% higher on Thursday, more than triple the percentage gain of the S&P 500 index. That move seems tightly related to the stock market debut of alt-milk products specialist Oatly (NASDAQ:OTLY), which soared on its first day of trading.

After it sold for $17 per share in its initial public offering (IPO), Oatly's American Depositary Shares (ADSs) closed nearly 19% higher. There are numerous factors behind this, not least the fact that the company's backers include stratospherically popular celebrity Oprah Winfrey, and its key product (oat milk) is available at Starbucks.

Image source: Beyond Meat.

Source Fool.com

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