Beyond Meat Just Hit All Time High After This Happened

Since debuting in the market earlier this month, shares of Beyond Meat have been on fire. The stock surged over 150% on its first trading day.

The stock hit a brand new high on Wednesday after Wall Street learned that Tim Hortons is testing the company’s plant-based sausages in select markets. Shares hit a high of $93 on the news.

The coffee chain, which is a unit of Restaurant Brands International, announced that it is testing Beyond Breakfast Sausage in three breakfast sandwiches in select markets.

“Canadians are looking to incorporate plant-based options into their diets and we’re thrilled to partner with Beyond Meat to test three Beyond Meat Breakfast Sandwiches — including an entirely vegan offering if the market test confirms the potential we see for the platform,”said Alex Macedo, president of Tim Hortons.

In test markets, the plant-based sausage will be available in the Beyond Meat Breakfast Sandwich, the Beyond Meat Farmers Breakfast Wrap, as well as the Beyond Meat Vegan Sandwich.

“The team did a lot of research and tested what products would work best as an alternative to beef or sausage in the breakfast category, and we concluded Beyond Meat was the right alternative,” Restaurant Brands CEO Jose Cil said to CNBC’s Kate Rogers.

Burger King, which is also under the Restaurant Brands International brand, is also rolling out a Whopper in more markets that is plant-based. It is made with the plant-based patty of Beyond’s competitor, Impossible Foods.

Disclaimer: We have no position in Beyond Meat Inc. (NASDAQ: BYND) nor Restaurant Brands International Inc. (NYSE: QSR) and have not been compensated for this article.