Beyond Meat, the company behind the innovative plant-based meat that is designed to “taste and feel” just like the real deal, officially went public on Thursday, May 2nd, 2019.
Surging by over 160%, Beyond Meat easily became the best performing company with IPO in the US for the last two decades.
Of course, Uber, the well-known ridesharing company, is set to go public in May as well, with a strong potential to take over the title of the best performing IPO from Beyond Meat.
Beyond Meat started with their opening IPO sale on Thursday, having been approved for a listing on Nasdaq under the thicker BYND.
A day earlier, on Wednesday, the first day of May 2019, Beyond Meat announced a starting position for IPO set at the share price of 25$.
Once the initial sale started, the company’s shares went from 25$ to 46$, changing the starting position by almost doubling the share price.
Beyond Meat than reached the price level of over 65$, nearly touching 73$ per share by the end of the first sale, collecting a total of 163% increases on the first day of trading.
Beyond Meat 2019 the Top Performing IPO in the Last Two Decades
According to Dealogic data and Market Watch, the last eye-popping first-day trade surge before Beyond Meat was related to Youku.com IPO back in 2010, when the shares of the Chinese-based company surged by 115%.
Surging by 163% in a single day with the opening sale, Beyond Meat became the top performing IPO in the last two decades.
The momentum resulted in increasing Beyond Meat market capitalization from 1.5 billion dollars on May 1st, to 3.8 billion dollars only a day later.
Additionally, Beyond Meat is planning to acquire the majority market share of alternative meats sector that could grow to 1.4 trillion in the following years.