Beyond meat, trading resumes with a rise of 140% during its debut on the market

After a brief pause, the trading of Beyond Meat shares resumed after the company's stock jumped 125% in its debut Thursday on the Nasdaq.

The opening transaction of the company was $ 46.00 per share. On Wednesday night, Beyond set its initial public offering at $ 25 per share for an implied market value of $ 1.46 billion.

Its IPO price is in the high range of the expected range of $ 23 and $ 25 per share. The Californian company based in El Segunda first set the range of $ 19 to $ 21 per share.

As more and more Americans adopt a flexitarian diet that reduces their consumption of meat for health and environmental reasons, herbal meat substitutes are gaining popularity. Beyond's meat alternatives, from faux ground beef to burger patties, are designed to more closely mimic the texture and taste of traditional meat. Gluten-free and soy-free products use pea and faba beans protein and can be found in grocery stores, as well as in restaurants such as TGI Fridays, Del Taco and White Castle.

In 2018, Beyond's business turnover amounted to $ 87.9 million, up 170% from net sales of $ 32.6 million recorded the year before . The company plans to use the proceeds of its IPO to invest in manufacturing facilities, research and development, and sales and marketing.

Beyond is the last company to debut this year. Some, such as Levi Strauss & Co. and Zoom, have prospered since their IPO, while others, like the carpool giant, Lyft, have seen their stock plummet.

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