Beyond Meat shares rise after McDonald's announces plant-based sandwich test
Beyond Meat Inc. (BYND) stock rose 3.4% in early Thursday trading after McDonald's Corp. (MCD) announced it would test the McPlant sandwich in eight U.S. restaurants for a limited time. The McPlant, which was announced late 2020, is the plant-based burger McDonald's created in partnership with Beyond Meat. The two companies announced an exclusive three-year agreement in February. Details on the test are scarce, but McDonald's said in a post on its site that "this particular test will help us understand how offering a burger with a plant-based patty impacts the kitchens in our restaurants." Beyond Meat stock has dropped 13.3% for the year to date. McDonald's shares have risen 13.8%. And the Dow Jones Industrial Average is up 13.4% for the period.
(END) Dow Jones Newswires
October 14, 2021 09:55 ET (13:55 GMT)
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