leadf
logo-loader
viewBeyond Meat Inc
(
NASDAQ:BYND
)

Beyond Meat shares jump as McDonald’s reveals plans to test plant-based burger using its patties in Canada

The fast-food restaurant chain said the 12-week test will start on September 30 at 28 restaurants in Southwestern Ontario

McDonald's -
The menus name will be the P.L.T, which stands for plant, lettuce and tomato

Beyond Meat Inc (NASDAQ:BYND) shares jumped higher on Thursday after McDonald’s Corporation (NYSE:MCD) revealed that it plans to test a plant-based burger using the firm's patties in Canada.

In a statement, the fast-food restaurant chain said the 12-week test will start on September 30 at 28 restaurants in Southwestern Ontario.

The item will appear on those menus as the P.L.T, which stands for plant, lettuce and tomato. The burger will sell for C$6.49 ($4.90), plus tax.

In New York trading, Beyond Meat shares added over 8% at $149.90, while McDonald’s shares edged up 0.4% to $213.52

The announcement coincided with the news of the launch by food giant Nestle SA of its 'Awesome' vegan burgers in the United States on Thursday, as the Swiss firm also seeks to tap into the country’s growing craze for plant-based meat.

Contact the author: patrick@proactiveinvestors.com

Follow him on Twitter @PatrickMGraham

Quick facts: Beyond Meat Inc

Follow
NASDAQ:BYND

Price: 104.55 USD

Market Cap: $6.64 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Clean Seed Capital Group announces Deerland Equipment as SMART Seeder Max dealer

Clean Seed Capital Group Chief Operating Officer Colin Rush joined Steve Darling from Proactive to share news the company has announced the appointment of Deerland Equipment as a Clean Seed SMART Seeder MAX dealer. Rush telling Proactive Deerland is a multi-store agricultural equipment dealer...

4 minutes ago

2 min read