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McDonald's Dumps Beyond Burgers, Shares Tumble

Published 06/25/2020, 10:14 AM
Updated 06/25/2020, 04:10 PM
© Reuters.

By Christiana Sciaudone

Investing.com -- Plant-based food purveyor Beyond Meat (NASDAQ:BYND) sank 10% this morning after getting dumped by McDonald’s. BYND closed down 4% at $145.31.

McDonald's (NYSE:MCD) six-month trial run of a vegetarian burger in Ontario, Canada, ended quietly April 6, according to CBC News. The burger maker told the outlet that it is "evaluating learnings" from the trial "to help inform future plant-based menu decisions.” Beyond Meat responded to CBC that, "We can only comment generally and share that we were pleased with the test.”

Yesterday, BTIG reiterated its buy rating on BYND after meeting with management. The company has five buys, 10 holds and six sell-equivalent ratings, according to MarketWatch.

McDonald's may not be convinced, but earlier this week, rival Impossible Foods signed a deal with Starbucks (NASDAQ:SBUX) to sell breakfast sandwiches in the U.S.

“People are increasingly aware plant-based products are going to completely replace the animal-based products in the food world within the next 15 years. That’s our mission. That transformation is inevitable,” Impossible CEO Patrick Brown told CNBC’s Jim Cramer on June 23.

Latest comments

Shame on this writer. The trial run ended. The story was posted days ago for those who care to do their research. They didnt “dump” it. A trial run ended. Simple as that
Sales didnt meet standards
Mostly It's liberals that are into fake burgers. They think they are saving the plant and it feeds there social justice warrior attitudes but honestly aside from some people with health issues who wants fake meat? I will take real meat every time
That's pretty bad when McDonald's says your food is worse then ours.
If I have to raise my own wild boar and cows and have a pond full of trout, I will do to ensure that I get to eat proper meat and fish - the rest of you, go eat veggie burgers. I really always want the real thing, no matter how good the other stuff is. I also always make a bone broth and stocks from all the offal - the goodness in those things are uncomparable with veggie burgers.
all big company dumps bynd away..
very few would swap to fake meat, but if we cont like this there will be not many other options in 10-20 years... i think at some stage these foods will get gov incentives like EVs. who bet on Evs 10 years ago, not even the big car manufacturers. lets see
I don't think in 15 years nobody will eat meat. I care for animals, but I won't stop to be an animal eating other animals.
 I prefer the question of suffering, because it's even more vertiginous. Do you want to "reduce" the suffering of animals? Under what metric? If you propose to stop eating animals, then you reduce the suffering which can happen while growing animals, because you reduce the number of animals, that's all. But if it allows more animals to live in the nature, which I doubt, then, it's allowing more of the natural suffering animals experiences during their lives. Is it better because it's natural? Another question related to the suffering of animals is what if we could grow animals that never suffer? It's just a way the brain works, but we could breed varieties that never develop pain or any kind of suffering. Would it be more ethical to eat them? Then would it be possible to eat whatever organism which doesn't suffer, even if intelligent?I recognize animals can be intelligent or sensitive, and that even some animals perform better than us on some psychometric tests,
but I refuse to feel guilty when I eat mussels or eggs. The level of suffering and conscious of those organisms or the chicken that produces eggs is not comparable to the human one.
...but I refuse to consider mussels or the chicken that produces eggs as having a conscious and a nural system equivalent to humans. The answer is different for a number of other animals. My answers are being deleted. Too bad, there were arguments. I find it funny that you can call me like you said, and I can not say the same thing to you. So I repeat it here the idea that was in the first paragraph. If you want to reduce the number of killings made in animal farming by reducing or eliminating cattle, then you will increase the number of animal killings in crops, pesticides and monoculture, ********a lot of animals, mainly because they take land for human consumption. Growing cows in a field for example, allow us to access resources we wouldn't access without destroying the soil, like feeding a chicken if it wasn't with corn. The only solution for a lower impact on the number of animals killed is to reduce human population. You can't feet 7 billion people without ********animals.
Lol beyond garbage stock, if McDonald's can't sell your wares there is no hope for you.
yeah, and seriously what sort of quality of meat can Mcdonalds honestly sell to people that makes it all so very cheap - the animals have not lived a good life - they are lucky to have ever had any space to move in a very closed space all their lives; their very likely to have been pumped full of hormones and antibiotics too and the wheat for the buns will be GM and full of Monsanto glyphosate - the lettuce and pickle will not be organic and also covered in pesticides, so I'd stay well clear of that rubbish.
Fake meat is not that healthy once u look into the mfg process n stuff,ingridients they added to peas,beans to make fake meat taste like real meat. If u r a vegan, Drop the fake meat, eat veggies.
Beyond meat *****
How does a meatless meat burger taste like?
Fake meat
meatless meat not going to be a big market
Some of these meatless offerings have many of the same ingredients in DOG food. Hmmm
so wat, as long as am not eating swine fed with excess fats
A lot of people argue they are vegan for health considerations and ecological ones, but considering how much process there is in, I doubt it to be very healthy and more, to have a low print on greenhouse gases emissions.
 so much processed vegan and vegetarian food is made with highly processed GM soy - I wouldn't touch that if I was absolutely starving! Even non GM soy is a rubbish food for cattle unless it's been fermented - such as Natto which happens to be one of the most awesome foods on the planet - in areas of Japan where the elderly eat a load of natto, not one has died from Covid 19.
Honestly it's mainly liberals who are interested in fake meat
yeah, I'd eat a lot more vegetables, if they were so much more of a challenge and fun to hunt down and shoot!
Fake food lol is this Sputnik or what
"fake food purveyor"  I laughed out loud on that one. It should be more accurately called 'processed plant based food"   Well played mcd's. well played.
Yeah, who wrote this? What, their food is made of plastic?
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