Beyond Meat (BYND.US) stock surged more than 7.0% at the beginning of the session after the plant-based burger maker launched a campaign with Kim Kardashian, naming her the company's first chief taste consultant.
“I am really inspired by Beyond Meat’s mission and love that they are not only making plant-based eating delicious and accessible, but are doing so in a way that benefits both people and the planet,” Kardashian said in a statement. a new marketing campaign.
Kardashian plans to highlight the brand's sustainable product portfolio with her signature recipes and creative content.
In recent months Beyond Meat's pace of growth significantly lost momentum amid growing competition and concerns regarding appeal of its products and impact on health. Company hopes that cooperation with Kardashian may help improve its performance in the future. Nevertheless, today's upward move turned out to be short-lived and the stock is currently losing 7.0%.
Beyond Meat (BYND.US) stock tumbled nearly 80% in the last 12 months and is currently trading below 2019 IPO price. Source: xStation5
