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Beyond Meat’s success may mean more fake food is on the way
Beyond Meat’s sales tripled this quarter in its very first earnings report as a public company, the company said today. The company also said it expects to break even this year. Its shares have taken off substantially since IPO even before the surprisingly good earnings report, and may be good news for Silicon Valley investors who are backing other fake food companies.
Beyond Meat makes, well, fake meat: the Beyond Burger. So too does Impossible Foods, its major rival (they make the Impossible Burger). Arguably there’s an appetite for them both: just two days ago, The Wall Street Journal reported that purveyors of meat-free burgers are struggling to meet demand from fast food chains. Those chains are…