OTLY - Why Beyond Meat Was a Winner Today
Beyond Meat (NASDAQ: BYND) closed 3.6% higher on Thursday, more than triple the percentage gain of the S&P 500 index. That move seems tightly related to the stock market debut of alt-milk products specialist Oatly (NASDAQ:OTLY), which soared on its first day of trading.
After it sold for $17 per share in its initial public offering (IPO) , Oatly's American Depositary Shares (ADSs) closed nearly 19% higher. There are numerous factors behind this, not least the fact that the company's backers include stratospherically popular celebrity Oprah Winfrey, and its key product (oat milk) is available at Starbucks .
Image source: Beyond Meat.
For further details see:
Why Beyond Meat Was a Winner Today