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Partnership Sends Beyond Meat 7% Higher Monday

By Daniel Miller - Jun 28, 2021 at 12:47PM

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A no-brainer partnership with DoorDash will get Beyond Meat in front of more consumers.

What happened

Shares of Beyond Meat (BYND -2.70%), a food company offering a list of revolutionary plant-based proteins designed to taste similar to animal-based proteins, jumped as much as 7% higher after the company announced a partnership with DoorDash (DASH 0.50%) for a summer on-demand delivery kit.

So what

The two companies decided to partner with one another just in time for the summer grilling season to offer a limited-edition summer grilling kit. The plan is simple: Offer a way for consumers to prepare for a cookout without having to visit the store. Kits will offer a grilling mitt, apron, tools, bottle opener, recipe card, and of course Beyond Meat's new Beyond Burger -- for $14.99. "This 4th of July weekend, we're excited to partner with DoorDash to further our mission to make plant-based options more accessible to all," said Rebecca Infusino, Beyond Meat VP of retail sales, in a press release.

Two plant-based burgers on a wooden board.

Image source: Getty Images.

Now what

For investors, this seems like a positive move for Beyond Meat. According to DoorDash, 73% of Americans believe grilling out a summer must-do. Younger consumers, especially millennials, are increasingly choosing plant-based options, and what better way to get Beyond Meat in front of more potential consumers than delivery grill kits right before July 4? As Beyond Meat looks for innovative ways to get in front of new consumers, and also looks toward international growth, it remains an intriguing stock within the food industry.

Daniel Miller has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Beyond Meat, Inc. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Beyond Meat Stock Quote
Beyond Meat
$35.70 (-2.70%) $0.99
DoorDash, Inc. Stock Quote
DoorDash, Inc.
$77.76 (0.50%) $0.39

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