Why Tyson Foods Stock Soared 70.5% in 2019
Shares of Tyson Foods (NYSE: TSN) climbed 70.5% in 2019, according to data from S&P Global Market Intelligence, as the protein-focused food leader became a primary beneficiary amid the fallout of an African swine fever outbreak in China. Tyson also launched a new plant-based food offering under its "Raised & Rooted" brand.
To be sure, the bulk of Tyson Foods' gain last year came in the first half, when shares steadily sizzled more than 50% higher amid an African swine fever epidemic that -- according to recent USDA estimates -- decreased Chinese pork production by 14% in 2019, which in turn sent pork prices soaring more than 60%.
IMAGE SOURCE: TYSON FOODS.
Source Fool.com
