It may be a bit early in the trend, but faux meat may be the next fintech, or even marijuana.
Hooters operator Chanticleer Holdings Inc., which also owns and runs restaurants under the American Burger Company, BGR – Burgers Grilled Right, Little Big Burger and Just Fresh brands, announced Wednesday that over 50 individual store locations would partner with Beyond Meat Inc. — offering, designing and testing their own unique burgers.
While Hooters, the sports bar known to cater to a male-dominated audience, isn’t among the brands listed in the launch, Chanticleer’s tests may lead to wider adoption as alternative proteins find favor with diners. But one thing is for certain — investors in the micro-cap stock like what they see thus far, as Chanticleer shares soared as much as 94% Wednesday. That was its largest intraday gain since Jan. 2, 2018, when the stock spiked on the company’s plans for a crytpocurrency-based customer rewards program.