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Shares Of Hooters Owner Surge 94% On Partnership With ‘Beyond Meat’

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[youtube https://www.youtube.com/watch?v=tx73O-zWOFo&w=560&h=349]

Beyond Meat’s products are particularly popular with Lululemon-wearing faux-bohemian yogis, Silver Lake vegans, Brooklyn-dwelling soy boys and Park Slope moms who are convinced they are allergic to gluten.

Hooters

Now, none of these demographics overlap with the typical Hooter’s customer. Nevertheless, Hooter’s owner Chanticleer Holdings saw its stock soar 94% on Wednesday after the company announced a partnership with Beyond Meat Inc.

BURG

Chanticleer Holdings, which also owns and operates restaurants under the American Burger Company – Burgers Grilled Right, Little Big Burger and Just Fresh – brands said it would soon introduce Beyond Meat patties to 50 stores, Bloomberg reports.

Though it has no immediate plans to bring Beyond Meat to Hooters, its market-testing could lead to “wider adoption” at its restaurants, the company said.

Beyond Meat’s shares have been volatile since the company’s trading debut last week, though it’s still up more than 200% from its IPO price.

As for Chanticleer, its pop on Wednesday was its largest intraday spike since Jan. 2, 2018, when the company announced plans for a cryptocurrency-based customer rewards program.

Which begs the question: Is introducing meatless burgers the new ‘put a blockchain on it’ play?

But before we can say for sure, we might need to do some old-fashioned ‘market research’.

And, just for old time’s sake…

[youtube https://www.youtube.com/watch?v=tx73O-zWOFo]


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Tyler Durden

Zero Hedge's mission is to widen the scope of financial, economic and political information available to the professional investing public, to skeptically examine and, where necessary, attack the flaccid institution that financial journalism has become, to liberate oppressed knowledge, to provide analysis uninhibited by political constraint and to facilitate information's unending quest for freedom. Visit https://www.zerohedge.com

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