Shares of plant-based meat company Beyond Meat (NASDAQ: BYND) soared on Thursday -- a day late. The company made a big announcement on Wednesday, and the stock spiked higher in pre-market trading. However, the broad market sell-off yesterday took Beyond Meat stock down with it. But with volatility dying down today, shares were able to fly, rising 13% as of 2 p.m. ET.
Beyond Meat's chicken alternative will be released at Yum! Brands ' Kentucky Fried Chicken (KFC) across the country on Jan. 10, according to yesterday's official press release. Beyond Fried Chicken has been offered for a limited time at KFC before, and this release will also be for a limited time. However, this is the first time KFC is releasing the limited-time menu item to more than just a handful of locations.
Image source: Beyond Meat.
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Why Beyond Meat Stock Just Soared