Beyond Meat shares surged close to +5% on Tuesday, on news of it launching a new, plant-based beef variety that tenderizes the same way real ground beef does.
According to media reports, the new plant-based product will contain pea protein, mung bean protein and brown rice proteins. The product will be available at stores starting June 24. Whole Foods and Kroger are among grocery chains that will house it.
It seems Beyond Meat’s faux-meat products are catching on fast. Last Wednesday, Canadian coffee chain Tim Hortons (a subsidiary of Restaurant Brands International ) announced that it was now serving breakfast sandwiches made with Beyond Meat’s meat substitutes at almost 4,000 of its locations.