Home > Beyond Meat Up 20% on KFC China Deal Renewal – Where to buy BYND

Beyond Meat Up 20% on KFC China Deal Renewal – Where to buy BYND

Beyond Meat (BYND) is attracting the attention of investors after renewing its deal with KFC China last week, and by expanding its network in Canada

Beyond Meat stock is more than 20% in the past five days on the news that KFC China and its network of 2,600 locations will launch a new plant-based meat wrap. Beyond Meat has been collaborating with KFC China since 2020, when it introduced its Beyond Burger there in selected restaurants.  The stock received a further boost on the news that major grocery stores across Canada will be stocking its Beyond Burger.  The stock traded as high as $192 in February this year, and is up close to 20% YTD. Analysts do not share this enthusiasm, and the consensus is that a price around $120-$130 is more reasonable. They point towards the company’s reduced forecast for 2022 revenues, down 35% on pre-covid-19 levels, but do note that the opening of a plant in Holland will help cut costs in Europe, and that a continued partnership with McDonald’s will help keep revenues buoyant.

Where Can I Buy Beyond Meat Shares?

Beyond Meat is freely tradeable as a major listed company in the United States. We recommend using one of the following sites for your transactions

eToro

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What is Beyond Meat?

Beyond Meat was founded in 2009 by Ethan Brown, who worked with two Uinversity of Missouri professors to commercialise their meatless protein products. Initially they sold meatless chicken, and moved on to meatless beef in 2014. They have partnerships with strong market players, including Walmart, Tesco, Dunkin’ Donuts, McDonald’s, Taco Bell and Pepsi. It floated on the NASDAQ in May 2019, valuing it at $3.8 billion. Initially predicting sales growth of around 40% p.a., it revised this figure down considerably to 2% p.a. In November 2020 in the wake of the COVID-19 pandemic.

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