earth in plant
  • Pepsi announced a new partnership to sell plant-based food and drinks with Beyond Meat earlier today.
  • Pepsi (PEP) rose a little over 1% on the news, however Beyond Meat (BYND) jumped up 17%.
  • I’m not exactly sure why Beyond Meat saw such a huge gain on this news, but agree that it seems like yet another indication that some stock prices aren’t exactly being driven by fundamentals these days.
  • On another note, sugarcane is also a plant, so one could argue that Pepsi has been in the plant-based beverage market for a long time.