In the past few years, we've seen plant-based meat go from a Silicon Valley pipedream to a revolutionary food that has already invaded mainstream fast food chains. Now, the disruptive industry is making Wall Street its next target, as Beyond Meat has become a publicly traded company.
Photo courtesy of Carl's Jr.
Beyond Meat is now the first ever plant-based burger purveyor to ever go public, a major step forward in confirming that vegan meat substitutes are the way forward. Investors seem to think so too: Just hours after launch, the company has already more than doubled its share price, a feat only achieved by just over 20 other companies in the last two decades.
It's quite rare for an IPO to double on the first day of trading. Only 22 companies have done so since 2001, according to data by the University of Florida.
But interestingly, many of them are food-related (Chipotle, Noodles & Co., Sprouts, Shake Shack, Potbelly, etc.) $BYND— Leslie Picker (@LesliePicker) May 2, 2019
It's clear that plant-based food has invaded the mainstream and become a core part of daily eating, whether it be as a vegan, flexitarian or just someone looking to cut down on meat consumption. Could this also be a sign that these substitutes aren't just going to be a part of the status quo, but could one day dominate it?
That conversation merits discussion, especially with how Beyond Meat is skyrocketing up the charts today. With all of that in mind, myself, fellow Foodbeast Elie Ayrouth, and vegan chef Skyler Tanksley broke down what all of this might mean on Foodbeast's The Katchup Podcast. Tanksley, who runs the kitchen at Orange County's first-ever vegan diner, Munchies, had some particularly insightful thoughts into what a future where plant-based meats are the norm could be like.
Regardless of whether any of that comes true, one thing is for certain: With how Beyond Meat is already performing on the stock market, it's only a matter of time before vegan meat becomes as commonplace as the real thing.