Beyond Meat today announces the retail launch of its ground product Beyond Beef, causing stocks to soar again after a temporary dip Monday and Tuesday. The beef product will be on shelves across North America later this week; according to the FT, investors have now valued the company over $8.6bn.
Since the announcement of the retail rollout for the beef product, which features “marbling designed to melt and tenderize like traditional ground beef”, shares have risen 4.3% giving a stock value of 157.38. Consumers will be able to purchase the plant-based beef at several American retailers including Amazon.com, Whole Foods, Kroger, and Safeway.
“We are thrilled to introduce consumers to our latest product innovation, Beyond Beef,” said CEO Ethan Brown. “This plant-based ground meat allows consumers to enjoy all the culinary versatility of ground beef, with the added nutritional and environmental benefits of eating plant-based meat.”