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One company is seeing skyrocketing sales, while the other is powerful and secure. Which one should you put your money in?
Just a few weeks after it introduced Impossible Burgers to some of Canada's leading restaurants, Impossible Foods, privately held rival of Beyond Meat (NASDAQ: BYND), declared its plans to greatly expand availability of its products in the northern country. At that time, the plant-based meats saw their debut at several "world-class restaurants," including Joe Beef, Patois, Hog Shack Cookhouse, Gold Standard, and others. The rollout beginning yesterday at 200 fast-casual restaurant locations, however, marks the start of permanent availability of Impossible Burger across Canada, according to the company press release.
What happened Shares of plant-based meat maker Beyond Meat (NASDAQ: BYND) jumped 9% earlier this morning and remain up almost 7% as of 11 a.m. EDT. The company made an announcement yesterday that may have gotten lost by investors on a down day for the stock market.