Trading on Nasdaq under the symbol BYND Beyond Meat is the best performing IPO since the start of 2019. Today the stock surged 163%, which upped its market value to $3.77 billion. When the stock surged up to 125% trading was temporarily paused due to volatility, but resumed shortly after followed by another notable surge in the stock.
Rival competitor Impossible Foods is experiencing a shortage of food due to high demand, a dilemma that Beyond Meat CEO Ethan Brown already went through in 2017 and 2018. Here’s what Brown had to say about the challenges his rival is facing and how they are now prepared to combat that issue if it arises again: “We’re now ready, because we’ve been through that and had to rebuild our supply chain, and had to rebuild and expand our production and our partnerships to be able to feed demand,” Brown said. “We’re now ready for even more growth.”
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