Beyond Meat (BYND) Lands Alibaba (BABA) Deal

July 1, 2020 - Beyond Meat (BYND) shares are jumping 10% to $147 in early pre market after the company partnered with China's Alibaba (BABA) to sell plant-based meat products in grocery stores.  Starting this weekend, Beyond Meat items will hit the shelves in 50 Freshippo Shanghai stores with another 48 arriving in other cities this fall.

This is a massive win for Beyond Meat as they continue to expand through China, the largest economy in the world.  CEO Ethan Brown has been laser-focused on the Chinese expansion and this deal underscores how Beyond Meat is the leader in plant-based protein.

Earlier this year, Beyond Meat entered China through Starbucks which is now selling their products in stores along with YUM China's KFC, Pizza Hut, and Taco Bell.  I'm expecting more partnerships to be announced later in 2020 and into 2021.

Beyond Meat (BYND) stock remains a strong buy below $130 if we see another major correction.  While my $150 price target was met last month, My BYND 2021 price target remains at $200.