meat: That sent the stock BYND, -2.00% surging 11.6% to 154.34 on heavy volume, according to Market Watch. Don't miss Beyond Meat's stock soars after McDonald's unveils test of company-made P.L.T. burgers. Beyond Meat investors got what they were waiting for Thursday, as McDonald's Corp. said it will begin testing in Canada a burger with a Beyond Meat-made, plant-based patty later this month. Jefferies analyst Kevin Grundy said this partnership has the potential to significantly boost Beyond Meat's BYND sales, if it is eventually rolled out beyond the testing phase to McDonald's 38,000 restaurants worldwide. While McDonald's MCD, 0.73% announcement is what bulls have been waiting for, Grundy said he can't recommend buying the stock as valuation keeps him on the sidelines. Grundy said if Beyond Meat's patties pass the test, and they eventually account for 1% to 6% of McDonald's beef volume in the U.S., it could add anywhere from 50 million to 285 million to Beyond Meat's annual sales.
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