Home / Business / Beyond Meat shares briefly trade above $ 200 after up 18%

Beyond Meat shares briefly trade above $ 200 after up 18%

In this illustration, Beyond Meat's "The Beyond Burger" packages are sitting on a table on June 13, 2019 in Brooklyn, New York.

Drew Angerer | Getty Images

On Tuesday, Beyond Meat shares climbed 18 percent, short of $ 200 a share.

In early May, the plant-based meat manufacturer set its initial public offering at $ 25 per share. Excluding the surge in Tuesday's pre-orders, the company's shares have risen 579% since it went public, with a market value of $ 9.9 billion.

Beyond's share price remains well above the analysts' price targets, the highest of which is $ 123. No one on Wall Street recommends buying the title anymore because of its strong trend. The stock has made waves due to the concern expressed by analysts about its monster market and the interest shown by the short sellers.

While the meat substitute market is becoming more populated as Tyson Foods and Nestle prepare to launch their own herbal imitation meat, Beyond has developed and improved its own products.

Shares of Beyond closed up 12% on Monday after the company announced that it would start offering its Beyond Beef – ground beef – in grocery stores. This announcement follows the launch by the company of a new "fleshy" version of its Beyond Burger in-store last week.

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