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The plant-based meat industry was estimated at $4.6 billion in 2018. But UBS Group AG (NYSE: UBS) predicts it will grow to $85 billion by 2030.
That 1,747% growth is propelling our best penny stock to buy this week.
This penny stock is a backdoor play on a key contender in the plant-based industry. And it's the top penny stock of the week, because right now is the perfect time to buy.
Today's investors can now get 184% per share in potential profit if they grab it now. It won't be there for long…
Because penny stocks trade around $5 or less, they can gain or lose by vast percentages in short amounts of time.
For example, another top penny stock, Soligenix Inc. (NASDAQ: SNGX), took a nice 55% bound only five days after it reported promising test data on a new drug on Jan. 14.
But our best penny stock this week was already waiting to nearly triple in price as plant-based meat started to take off last year.
Why Plant-Based Meat Is More Than Hype
Some have criticized plant-based meat as a passing fad. However, with the number of big restaurant chains adopting plant-based meat, it doesn't look like it's going away anytime soon.
McDonald's Corp. (NYSE: MCD) announced in the fall of last year that the company would be testing a P.L.T. – plant, lettuce, tomato – sandwich in the Canadian market.
The sandwich patty is sourced from the disruptive Beyond Meat Inc. (NASDAQ: BYND), which has made a splash since its May 2019 IPO. It's grown around 50% since that time.
If the Beyond Meat stock price holds on, it could be a rare case of a trendy IPO that's more than "hype." So far, this looks like the case.
Beyond Meat has partnered with iconic companies like KFC, Subway, Dunkin' Brands Group Inc. (NASDAQ: DNKN), Blue Apron Holdings Inc. (NYSE: APRN), Del Taco Restaurants Inc. (NASDAQ: TACO), and A&W Restaurants Inc.
Plant-based meat partnerships have been seen with big industry players across sectors. The venture arm of General Mills Inc. (NYSE: GIS), for example, just backed plant-based seafood brand Good Catch for its Series B round of funding last week.
With so many big brands buying into plant-based meat, it makes a good case for plant-based meat in the years ahead.
With the right plant-based meat play, you can ride the wave to more profits as the industry climbs 1,747%. And you can start this week, with our top penny stock at a discount promising a 184% profit…