McDonald's (MCD) Announces its Exclusive Plant-Based Burger, McPlant; Beyond Meat (BYND) Shares Collapse

On its conference call Monday, McDonald's (NYSE: MCD) announced it will be creating its own plant-based burger, the McPlant.

McDonald said some markets will be testing the burger next year.

Beyond Meat (NASDAQ: BYND), which has partnered with McDonald's in some markets and was expected to get a wide-U.S. partnership deal, is under heavy pressure on the news. Beyond Meat shares fell 5% before being halted on volatility as the news broke.

You May Also Be Interested In

• McDonald's (MCD) PT Lowered to $290 at RBC Capital
• Fold Holdings (FLD) files for 51.23M share offering by selling stockholders
• InMed Pharmaceuticals gets Nasdaq equity deficiency notice