Beyond Meat jumps 10% on launching faux fried chicken with KFC

BYND Cannasoft Enterprises

05/01/2022 12:10

** Shares of Beyond Meat  BYND.O  rise 10% premarket to
$67.6, set to snap three sessions of losses 
    ** Yum Brands'  YUM.N  KFC said on Tuesday it would start
selling plant-based fried "chicken" from BYND across the United
States on Jan. 10 for a limited time  urn:newsml:reuters.com:*:nFWN2TK0Y3
    ** BYND slipped 5% on Tuesday to its lowest in nearly two
years, but added 8% after the bell on the KFC news  urn:newsml:reuters.com:*:nL4N2TK3EE
    ** "If this test is successful ... it could represent as
much as 10% of BYND's total revenue stream" - BTIG
    ** Morningstar Inc says investor fears about slowing U.S.
retail demand for plant-based meat are unwarranted, as the
slowdown appears to be the result of COVID-driven surge in 2020;
sees growth re-accelerating in 2022
    ** BYND shares fell 48% last year 
    

 (Reporting by Anisha Sircar in Bengaluru)
 ((Anisha.Sircar@thomsonreuters.com;))