Investors' desire to earn money on the first public company for the production of vegetarian meat and the growing popularity of alternative vegetable-based meats on Thursday May 2 raised shares of the American vegan burger producer Beyond Meat Inc. more than 160 percent

Bidding opened at $ 46 per share, which is much higher than the price of an initial public offering (IPO) of $ 25. Shares rose a few minutes after the start of trading and were stopped due to volatility. They traded up to $ 72 during the day, and then closed at $ 65.75.

Beyond Meat, warning that it could never make a profit, “closed” at the end of trading with a market capitalization of about $ 3.8 billion, which is based on offered shares, including options for underwriters.

Beyond Meat founder and CEO Ethan Brown told Reuters that the proceeds will be used to expand marketing efforts, develop new products, create production centers in Europe and Asia and open additional production facilities in the United States.

Beyond Meat creates meat substitutes using ingredients that mimic the composition of animal meat, mainly using pea protein that looks and cooks like beef or chicken.

Currently, about 70 percent of the company's revenue is generated by its flagship Beyond Burger pies. The company also sells simulated sausages and vegan ground beef.