Beyond Meat, Inc. (BYND) announced the opening of Plant-based meat manufacturing facility in China after which BYND’s stock price was pushed by 2.65% in the pre-market session to reach $137.50 a share at the time of this writing. BYND outperformed at the previous trading session and closed with a 1.79% gain. Let’s look at current events in detail.
Plant-Based Meat Manufacturing Facility:
Beyond Meat, Inc. (BYND) is a food company working as the manufacturer, marketer, and seller of plant-based meat products in the U.S and the globe. The main purpose of the world-class plant-based meat manufacturing facility in the Jiaxing Economic & Technological Development Zone (JXEDZ) near Shanghai is to fasten the local production as well as innovation. This development would help Beyond Meat stock to expand its network in the Jiaxing by speedy manufacturing and distribution of its products within the region. Furthermore, this step would strengthen the cost structure of BYND stock and would provide sustainability to the operations.
This facility will produce a variety of plant-based meat products which include plant-based pork, poultry products, and beef. Beyond Pork which, is specially created for the Chinese market, is also added to this facility. The facility will help BYND in the research and development of new and unique plant-based meat products and will support its local strategic partners.BYND stock is making serious efforts in the advancement of plant-based meat products in China for long-term growth.
Beyond Meat Position in China:
About a year ago, BYND signed an agreement with Starbucks China and within the year, BYND stock had expanded menu offerings at Starbucks and did partnerships with many of the renowned brands like KFC, Pizza Hut, Jindingxuan, and many more. Moreover, Beyond Meat has successfully built its reputation among the local consumers in China who prefer a healthy and sustainable lifestyle.
Investors are responding to the news related to the opening of a new plant-based meat manufacturing facility announced by BYND stock. This development of BYND stock would pave the way to the long-term growth of Beyond Meat in China. Hence BYND stock can be a good bet for investors having long-term prospects.