20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
Shares of plant-based food maker Beyond Meat Inc (NASDAQ:BYND) rebounded sharply Monday afternoon after confirming it's playing a role in McDonald's Corp (NYSE:MCD) new plant-based products.
What Happened: McDonald's said Monday it will start testing its own plant-based food product in various markets in 2021 as part of a new McPlant platform.
McDonald's international president Ian Borden was quoted by USA TODAY as stating the McPlant lineup is "crafted exclusively for McDonald's, by McDonald's."
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Stock Rebounds: McDonald's announcement of a new plant-based lineup sent Beyond Meat's stock notably lower on the session. The logical takeaway from the announcement and Borden's comments was that Beyond Meat isn't going to play a part in McDonald's vegan menu plans.
But by Monday afternoon, Beyond Meat's stock sharply rebounded to session highs. A statement from management confirmed it's part of McDonald's supply chain.
"Beyond Meat and McDonald's co-created the plant-based patty which will be available as part of their McPlant platform," a Beyond Meat spokesperson told CNBC.
Beyond Meat's stock hit an intraday low of $142.41 and spiked to as high as $165.74.
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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