Monday, November 9, 2020

Beyond Meat Shares Get Whiplash After McDonald's Announcement

El Segundo-based plant-based meat maker Beyond Meat saw a huge whiplash in its stock price this morning, after partner McDonald's announced its own, plant-based hamburger alternative, McPlant. Beyond Meat's stock dropped nearly $20 per share on the news, until a couple of hours later, when it was revealed that McDonald's is partnering with Beyond Meat on the development of the new alterative. Beyond Meat said it co-created the plant-based patty, which McDonald's announced without any mention of the partnership.