Pitching in to help provide food for those who need it during the coronavirus pandemic, Beyond Meat (NASDAQ:BYND) declared in a Facebook post that it's donating over a million of its plant-based Beyond Burgers to healthcare professionals and many others. The company calls this initiative "Feed a Million+" and says it will distribute the seven-figure burger donation over the next 30 days.
The pledged victuals will be distributed not only by Beyond Meat, but also its partners, via multiple channels. The plant-based meat will be donated to hospitals, community centers, and food banks. Beyond Meat will set up "operational outposts" in previously closed restaurants, which it says will also aid some employees in getting back to work.
In order to choose which organizations will get the bounty of meat-free burgers, Beyond Meat is relying on input from its friends and brand ambassadors. Additionally, it's asking its customers and employees to suggest places where the Beyond Burgers might do the most good. While the heaviest push is in New York and Los Angeles, the food will also appear in many other locations across the country.
Beyond Meat's share value nosedived nearly 30% last month as the coronavirus shut restaurants across America. Its price has since rebounded slightly but remains far below its level before COVID-19. The stock is up almost 4% today as restaurant stocks trade somewhat higher mid-week on the possibility that stay-at-home orders may be relaxed in a few weeks.
Editor's note: This article has been corrected to make clear the Beyond Meat products are being donated and that customers and employees have been asked to suggest places where the Beyond Burgers might do the most good.