Beyond Meat has Emerged on the New York Stock Exchange
American vegetable meat brand Beyond Meat has emerged on the New York Stock Exchange on Wednesday (May 2).
It is a company that produces ‘100% vegetable meat’ products with protein extracted from beans, mushrooms, pumpkins and so on.
Beyond Meat finished trading at $ 65.75, up $ 40.75 from the Nasdaq ‘s first public offering ($ 25) on the day. The stock price climbed to 163%, nearly tripling the contestants.
The market capitalization totaled $ 3.776 billion (about 4.39 trillion won).
Time-out transactions are also rising to around $ 70.
Since its establishment in 2009, Beyond Meat has focused on manufacturing frozen chicken substitutes in the early days of its business, but since then, the trend of preferring the vegetarian diet has been growing.
The ‘Beyond Burger’, a vegetable meat patty with a very similar flavor, recipe and appearance to the existing beef patties, is the standard product of Beyond Meat..
Bill Gates, co-founder of Microsoft, actor Learner, DiCaprio, and former CEO McDonald’s Don Thompson have invested in Beyond Meat.
Beyond MeT last year recorded sales of $ 879 million and net loss of $ 29.9 million.
The market capitalization on the first day is 43 times of sales.
“The value of traditional food companies is twice as much as sales,” CNBC said in a statement. “Beyond Meat means investors are valued as Silicon Valley start-ups rather than food companies.”