Beyond Meat shares rise to the news that the company will work with Taco Bell on new menu items.
The company’s stock rose $ 13.13, or 13.67%, to $ 142.48 and climbed into Mid Day Trading after Taco Bell announced that Beyond Meat would have to be embraced to come up with new menu items for testing next year.
The decision of Taco Bell, a subsidiary of Yum Brands, is a departure from the Mexican fast food chain’s commitment as it develops new vegetarian menu items.
“We have seen. We’ve met beyond, we’ve met the impossible – everyone’s head of our innovation knows that, and they all know him, “Julie Fells Messino, Taco Bell’s president of North American operations, told CNBC in 2019.” But I think we are proud that we have been vegetarian for 57 years. “
Now the company wants to make alternative protein meshes from a Southern California alternative protein provider. “We have long been a leader in the vegetarian space, but this year, we have more non-vegetarian options in store that vegans, veggie-curios, and even meat-eaters will love, ”said Lick Matthews. Bell’s global CEO.
Taco Bell claims that the American menu already has more than 30 vegetarian ingredients, but the lack of its protein choices was noticeable as many of its competitors adopted a meat substitute craze.