Here is one of the many articles stating that as of today BYND burgers are now HALAL certified.
If you don't know what Halal is or why this is relevant then you are probably not Muslim or Hindu. The certification will now give BYND a huge customer base boost in my opinion. Impossible Burgers did this in 2018 so the alternative meat market in the UAE has already been introduced. I think BYND is set to capitalize on this new certification especially as meat markets are already negatively impacted from COVID issues.
$BYND also is sitting >20% short float so any upward movement in this stock could potentially start a quick move up. The stock is sitting near $100 and to me looks to be at a nice floor psychologically ($100 is a nice round bottom for people to buy near).
Finally the OATLY IPO is coming quick. The alternative meat / protein space will likely be the talk of the town at near the end of the week which may bring BYND up or down with it as the IPO happens. The good ole sympathy trade…
Disclosure: No I'm not muslim / hindu but I do have family that is. This certification gives them "confidence" that during the holidays they can still eat this food. It also allows them to serve this food at events, which is something I know has been an issue in the past for us personally. If it's not Halal it won't be served at a party / event.
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