Edging higher on McDonald’s rumorsThe stock hits a high for 2020, buoyed by a couple of weeks of good market news that places it 14.2% higher than the start of the month at $194.94.
October started with a meaty rumor that McDonald’s (MCD) was partnering with Beyond Meat to launch a vegan burger in the UK. A mystery Instagram user called Vegan Food UK shared an image showing a ‘new vegan burger’ featuring a Beyond Meat patty. The post said: “This image is from a survey that someone had from McDonald's in the UK. Nothing is official until McDonald's says so 🙂. We aren’t sure of a launch date yet but we know they have had this in the pipeline for a while.” Intriguing.
The strong month was topped off a day later after the US District Court for the Central District of California rejected a shareholder class action against Beyond Meat which claimed it had failed to disclose the extent of litigation against it from Don Lee Farms. The judge ruled there was no evidence of misleading information.
October started with a meaty rumor that McDonald’s was partnering with Beyond Meat to launch a vegan burger in the UK. Photo: Jurij Kenda / Unsplash