Beyond Meat Inc. (BYND) shares soared 12% in Friday trading, putting the plant-based protein maker on track to end the week up more than 46%. That would be the biggest weekly percentage gain since the company's blockbuster IPO in May 2019 ( ). The stock closed Thursday up 12.8%. It was announced this week that Beyond Meat entered the Chinese market ( ) through a partnership with Starbucks Corp. (SBUX). And Beyond Meat entered into a $150 million, five-year secured revolving credit facility this week ( ). Plant-based protein executives are bullish on the future of the product as animal-based meat companies like Tyson Inc. (TSN) announce plant closures ( ) due to the coronavirus. Beyond Meat stock has rallied 65% over the last month while the S&P 500 index is up 14.7% over the period.
-Tonya Garcia; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
April 24, 2020 10:56 ET (14:56 GMT)
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