During its first day of trading, shares opened at $46, far better than the stock’s $25 offering price. Since then they have traded as high as $96.78, although they dipped to the high $70s at the end of last week.
According to a recent report, Barclays believes that alternative meats can one day grow to claim 10% of the global protein market.
It has been nearly a month since Beyond Meat’s IPO, which means that analysts at the company’s Wall Street underwriters can initiate coverage. Analysts at Goldman Sachs , Jefferies, Bank of America Merrill Lynch, and Credit Suisse all came out neutral on the stock.
Beyond Meat stock gained another 8% on Tuesday, to close at $86 per share on a day the S&P 500 lost 0.8%.