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Investing.com — Beyond Meat Inc (NASDAQ:BYND) jumped sharply Wednesday on a report the McPlant burger will become a permanent menu item at McDonald’s.
Beyond Meat pared some gains, but was up more than 9% in recent trade.
McDonald’s (NYSE:MCD) reportedly said it expects the sandwich to be a permanent menu item, Fast Company reported, citing remarks from Morgan Flatley, McDonald’s global chief marketing officer.
“We are confident this product will stay in restaurants,” Flatley said in a Fast Company panel discussion. “This is not a fad. It’s a product that is going to continue to grow.”
The fast food chain is expected to report earnings Thursday. Analysts tracked by Investing.com expect it to post earnings of $2.17, with revenue coming in at $5.57 billion.
The McPlant was launched in February at several hundred McDonald’s restaurants throughout the San Francisco Bay and Dallas-Forth Worth areas as the fast-food giant looked for insight into customer demand for the meatless item.
