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Shares of Beyond Meat (NASDAQ: BYND) are up 5.6% in morning trading Tuesday, following a holiday weekend that saw a new rival about to enter the market.
Kellogg (NYSE: K) announced it was splitting its company in three, with one of the new businesses to be its plant-based unit, which has about $340 million in net sales. Beyond Meat had less than $465 million in sales last year.