Beyond Meat's stock falls after former investor Tyson Foods touts plans to sell plant-based nuggets
Since going public in early May, Beyond's stock has soared 468%. Its market value is now $8.3 billion, roughly one third of that of Tyson, the nation's largest meat producer.sold its stake prior to Beyond's initial public offering
because it planned to offer its own meat alternative products. The meatpacker announced Thursday that it planned to launch imitation chicken nuggets later this summer, as well as burger patties blending meat with vegetables in the fall. Beyond does not currently offer any plant-based chicken products, but the company is working on a new and improved version of its chicken strips, which it pulled from grocery store shelves earlier this year.estle is planning to launch its own plant-based burgerEuromonitor expects that the market for meat alternatives will hit $22.9 billion globally by 2023. Tyson said that alternative protein could be a billion-dollar business for the company someday.
While Beyond has said that the company has enough capacity to handle projected demand for the next two years, Big Food companies like Tyson and Nestle have even more muscle when it comes to production and research and development.
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