June 11, 2019 / 1:28 PM / 2 months ago

Beyond Meat launches new version of meatless burgers

June 11 (Reuters) - Beyond Meat Inc said on Tuesday it would start shipping a new version of its flagship vegan burgers to grocery stores across the United States this week.

The new burgers that come with a marbling effect, melt and tenderize like beef patties and are made with blended pea, mung bean and rice proteins.

Shares of the California-based company fell 11% before the bell after lead underwriter J.P.Morgan downgraded stock rating to ‘neutral’, calling it a purely “valuation call” as risks and rewards are balanced.

Reporting by Nivedita Balu in Bengaluru; Editing by Shinjini Ganguli

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