Kellogg (NYSE: K) shares rallied after a MarketWatch columnist shared why he thinks, “Kellogg is sitting on a 'fake meat' gold mine bigger than Beyond Meat,” adding that MorningStar Grillers’ vegetarian burgers are better than Beyond Meat’s (NASDAQ: BYND) Beyond Burgers.
MarketWatch columnist Brett Arends points out that Morningstar Farms is a division of Kellogg and produces vegetarian food. This means Kellogg owns the largest single “fake meat” operation.
MorningStar’s “Grillers” vegetarian burgers, according to Arends, are “way better than Beyond Meat’s, Beyond Burgers.”
The MorningStar Grillers are mainly made of soy. Arends makes the point that anyone watching the stock market, reading the news or watching the news knows there’s a sudden Wall Street mania for so-called “fake meat” burgers. Beyond Meat shares skyrocketed sixfold since its IPO two months ago.
Shares were trading around $151.76 at time of publication. Kellogg shares were trading higher 6.6% at $56.70.
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