Article Date 12/08/2019

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Beyond Meat's stock briefly falls below secondary offering price

Source CNBC

Shares of Beyond Meat briefly fell below its secondary offering price of $160 Thursday.

Beyond's stock, which has a market value of $9.8 billion, briefly fell nearly 5% to $158.81 per share in morning trading before regaining some of those losses.

Competitor Impossible Foods, which is privately held, announced Thursday that it had secured a deal with Sodexo. The foodservice company, which has contracts with universities, hospitals and prisons, will serve the Impossible Burger and other plant-based products at more than 1,500 locations.

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