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