Beyond Meat, the faux-meat maker that has become a Wall Street darling, is announcing one of its biggest restaurant roll-outs yet.
A sandwich featuring the company's plant-based sausage will arrive in more than 9,000 US Dunkin' restaurants beginning on November 6th, the companies said Monday.
Beyond Meat shares originally rose on the news before erasing gains, falling as much as 3.6 per cent.
Despite the expansion news investors are likely to be nervous ahead of the stock's lockup expiration next week when insiders get the chance to cash out gains after selling restrictions end, DA Davidson analyst Brian Holland said in an email.
Restaurants are racing to line up non-meat menu items as Americans warm to patties and sausages that mimic the flavours and textures of the real thing but are made with plants.
Beyond Meat, which has seen its stock rally more than 300 per cent since its May public offering, is already present on menus at TGI Fridays nationwide and in regional fast-food chains like Carl's Jr and Del Taco. – Bloomberg
