Beyond Meat Jumps 14%
Starbucks will introduce three new dishes made with Beyond's beef alternative in China
Shares of Beyond Meat Inc. (BYND) are currently gaining nearly 14% on Tuesday morning after coffee retail giant Starbucks (SBUX) announced it will add Beyond Meat products to its menu in China. BYND is currently trading at $90.25, up $11.13 or 14.07%, on the Nasdaq.
CNBC reported that Starbucks will introduce three new dishes made with Beyond's beef alternative in China. The coffee chain will also offer two new dishes made with a pork alternative from Hong Kong-based Omnipork as well as Oatly's oat milk as a non-dairy substitute for Chinese customers.
Starbucks has reopened more than 95% of its cafes in China after temporarily closing them due to the spread of the coronavirus pandemic. The launch by Starbucks in China is good news for Beyond Meat which is seeking to expand to Asia by this year end. (dpa)
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