Beyond Meat Inc. /zigman2/quotes/211617595/composite BYND +1.31% has gone public Thursday, with shares of the plant-based meat maker rocketing in their debut. The first trade was at $46.00 at 12:18 p.m. Eastern for 2.75 million shares, which was 84% above the $25 initial public offering price. The IPO had priced late Wednesday at the top end of the recently raised expected range. The company sold 9.5 million shares in the IPO, up from previous expectations of 8.8 million shares, to raise $237.5 million. The stock has extended gains to be up 99% since the open. At current prices, the maker of Beyond Burgers has a market capitalization of $2.90 billion, according to FactSet. The company has gone public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +2.90% has run up 32% year to date and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.78% has gained 16.
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Beyond Meat soars 163% in biggest-popping U.S. IPO since 2000