On Tuesday, investors rallied to bring the company’s post-IPO gain to 240% at the closing bell. Will you buy BYND and invest in a more vegan future?
The Beyond Burger looks, tastes, heck—it even bleeds like a cow burger. It also happens to generate 90% fewer greenhouse gases than U.S. beef. And if that wasn’t good enough, the plant-based patty sells for $12.00 per pound and requires 46% less non-renewable energy, 93% less land, and 99% less water than a beef burger does.
“I’ve been feeding our teenager Beyond Sausage for the past few months without him noticing the swap,” Beyond Meat Board Member and Twitter CFO Ned Segal told Meat and Poultry. “I’ve seen the likeability of the product firsthand.”
On Thursday morning, the first Beyond Meat (BYND) trade was for $46, already 84% above the IPO price of $25 a share. It closed its first day at $65.75 a share, making it the best performing first-day IPO in almost two decades. Investors rallied to bring the company’s post-IPO gain to 240% at Tuesday’s closing bell.
Beyond Meat is offering the public stake in a vegan meat company for the first time. Founder Ethan Brown and the Beyond Meat team didn’t have to make money off of the IPO, as a number of media outlets reported. They had to show the rest of the market that a plant-based meat company belongs on Wall Street—that the public is ready to invest in a more vegan future. And they did.
Matt is the lead reporter and editor with Sentient Media. Previously, he wrote for Outside Magazine and helped launch Anxy, an award-winning magazine on mental health.