Beyond Meat shares rallied on Tuesday after the company announced the launch of its Beyond Steak Filet at Wegmans and H-E-B grocery stores. The plant-based steak, which contains 28 grams of plant protein and 1 gram of saturated fat per serving, is now available in supermarkets for the first time. CEO Ethan Brown called it the company's most compelling center-of-the-plate innovation since the Beyond Burger. The launch is part of Beyond Meat's efforts to diversify its product lineup amid slumping sales, with revenue falling 15% year over year to $58 million in the first quarter.
Beyond Meat IncBeyond Meat launches Beyond Steak Filet at Wegmans and H-E-B, expanding retail availability and potentially boosting sales.
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