From Barron's May 29:
Highflying alternative protein startup Beyond Meat is apparently expanding in China, and investors seem to be happy with the move. The stock is up in early Friday trading.
Beyond (ticker: BYND) products might be on KFC menus in China as early as June, according to on a post from KFC on Chinese social media. KFC in China is controlled by Yum China (YUMC). Yum China separated from Yum Brands (YUM) in 2016. Both companies didn’t immediately respond to a request for comment.
The announcement showed up earlier this month and didn’t appear to affect Beyond immediately. Investors, however, should take note as the launch approaches—Beyond shares typically react positively to new distribution news.
Partnerships with Dunkin’ Donuts parent Dunkin Brands (DNKN), McDonald’s (MCD), and Starbucks (SBUX) have propelled Beyond stock higher in the past. Starbucks’ recent partnership represented an early foray for the company into the Chinese market....
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MUCH MORE including a mea culpa I may purloin:
....Barron’s panned
Beyond stock in 2019. We weren’t complaining about
business execution, only stock market valuation. Beyond shares trade for
11 times estimated 2021 sales. It’s a steep price to pay. We made that
call when the stock was about $100. Beyond stock has been very volatile,
making us look smart and less so at different points.
In late pre-market action the stock is up $3.06 (+2.39%) to $131.35after jumping 6% on Friday.
