Today Beyond Meat (BYND) closed at $194.20 after spiking up 9.85% today. Since its early May IPO, Beyond Meat’s share price has skyrocketed from its initial value of $25 per share. The company is set to report their quarter two earnings on July 29th and there is heavy market speculation of a lucrative report. Their last earnings report saw shares soar 23% on June 6th.
Beyond Meat has seen tremendous success in engulfing the market of vegan diners, as well as attracting meat-lovers with their authentic imitation of true meat taste in their products. Their plant-based meat substitute has taken the food industry by storm and is looking to set the precedent for ethically sourced consumption. They have been strategically selling their products in various grocery chains like Whole Foods to attract their health-conscious customers.
Beyond Meat has seen a significant uptick in demand since going public and aims to continue its scorching hot performance with another solid earnings report. The stock is amongst the most hotly debated at the moment, with many analysts predicting their bubble will burst soon. Tune in next week for our earnings breakdown and future outlook of Beyond Meat!