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Beyond Meat stock remains hot after sizzling IPO

The plant-based meat producer behind the Beyond Burger opened trading Thursday at $46, nearly double its $25 IPO price
Beyond Burger
On Wednesday night, the company issued 8.8 million shares between $19 and $21

The jury is still out on whether vegan burgers will go mainstream, but investors are eager to take it there. A day after a blistering IPO, Beyond Meat Inc (NASDAQ:BYND) shares continue to climb Friday.

The plant-based meat producer behind the Beyond Burger opened trading Thursday at $46, nearly double its $25 IPO price, and went on to close at $65.75.

The growth hasn’t stopped yet, as shares grew 3.4% before the bell to $68.

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On Wednesday night, the company issued 8.8 million shares between $19 and $21 to raise about $183.8 million. It reported revenue of $87.9 million and a net loss of $29.9 million in 2018.

Contact Andrew Kessel at [email protected]

Follow him on Twitter @andrew_kessel

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