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BYND, MCD, SBUX
6/25/2020 10:06am
Beyond Meat under pressure as McDonald's Canada burger trial ends

Shares of Beyond Meat (BYND) are under pressure on Thursday after McDonald's Canada (MCD) said via Twitter that its burger trial has ended, with no plans to bring it back. The global Plant. Lettuce. Tomato. test launched in Canada last September at 28 locations and was expanded earlier this year.

TRIAL ENDS, NO PLANS TO BRING IT BACK: McDonald's Canada said via Twitter that, "Our Plant-Based Burger was being tested in several Markets until April 6th. We have no current plans to bring it back to our menu at this time. However, we will be sure to share your feedback with our team for future consideration."

Back in January, McDonald's expanded the global test of its plant-based burger to include 52 restaurants in Southwestern Ontario for a total of 12 weeks. The P.LT., which stands for Plant. Lettuce. Tomato., is made with a Beyond Meat plant-based patty that has been crafted exclusively by McDonald's, the company said in a statement. The global P.LT. test first launched last September in 28 restaurants.

IMPOSSIBLE BREAKFAST SANDWICH: On Tuesday, Starbucks (SBUX) announced that customers across the U.S. would now be able to enjoy the Impossible Breakfast Sandwich available as part of Starbucks new summer menu alongside new cold coffee beverages. The Impossible Breakfast Sandwich features Impossible Sausage Made from Plants, which is combined with a cage-free fried egg and aged cheddar cheese and served on an artisanal ciabatta bread. The new breakfast sandwich is available at the majority of Starbucks locations throughout the U.S.

WHAT'S NOTABLE: In March, Starbucks (SBUX) introduced a new Beyond Meat, Cheddar and Egg Sandwich to its Canadian stores, alongside the launch of the new spring menu. "This meatless breakfast sandwich will be part of Starbucks Canada's core menu," the coffee giant said in a statement.

PRICE ACTION: In morning trading, shares of Beyond Meat have dropped over 6% to $142.20.

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