[ad_1]
Shares of Beyond Meat Inc. skyrocketed at the start of Thursday's session after McDonald's Corp. announced the launch in Canada of a test using a hamburger paste made by the company.
The hamburger is called P.L.T., which means plant-lettuce-tomato. It will be sold in 28 restaurants starting Sept. 30 in southwestern Ontario. The trial is expected to last 12 weeks.
Beyond the meat broth
BYND, + 10.04%
climbed to 16% before reducing the morning gains by 10%. The trading volume reached 4.4 million shares, which is already more than the daily average of around 3.1 million shares.
McDonald's shares
MCD + 0.60%
gained 0.6%.
P.L.T. will be made with a McDonald's Beyond Meat Herbal Slab, without artificial colors, flavors or preservatives, and a sesame seed bun. It will cost you $ 6.49 Cdn ($ 4.90), before taxes.
"McDonald's has a legacy of fun, delicious and delicious food – and now we are extending that to testing a juicy herbal burger," said Ann Wahlgren, vice president of global menu strategy at McDonald's. "We are working on our recipe and we are now ready to hear from our customers."
McDonald's is the latest fast food chain to test herbal meats made by Beyond Meat. Yum Brands Inc.
YUM, + 1.12%
Last month, KFC launched a Beyond Famous Star burger with cheese in Canada, and Subway announced that it would test a Beyond Meatball Marinara in 685 restaurants in the United States and Canada.
Do not miss: Beyond meat is a "disruptive" because sales of the vegetable meat sector are expected to reach $ 100 billion.
Read also: Here's how Beyond Meat can lose the lead in the herbal meat category for the benefit of Tyson.
In July, Dunkin 'Brands Group Inc.
DNKN, -0.39%
stated that he would add Beyond Meat's herbal meal option to Manhattan Menus and Del Taco Restaurants Inc.
TACO, -2.82%
announced in June that it would offer two new burritos containing Beyond Meat vegetable protein.
Shares of Beyond Meat, which went public on May 2, lost 4.7% over the past three months, but Wednesday's closing price of $ 138.32 was about six times the price of initial public offering of $ 25. More information on the largest Beyond Meat IPO since 2000.
At the same time, McDonald's shares rose 4.6% and the Dow Jones Industrial Average
DJIA, -0.33%
added 1.4%.
[ad_2]
Source link