Illustration: Aïda Amer/Axios

Beyond Meat shares popped 163% yesterday on their first day of trading, marking the best IPO day performance since before the financial crisis.

The bull case: Beyond Meat rival Impossible Foods recently got onto Burger King's menu, and there is widespread speculation that Beyond Meat will strike a similar deal with McDonald's or Wendy's.

  • Former McDonald's CEO Don Thompson is on the Beyond Meat board, having invested through his VC firm Cleveland Avenue.
  • These products aren't just for vegetarians and vegans, with Impossible CFO David Lee telling me Monday that around 90% of his company's customers consider themselves to be carnivores.

The bear case: More than a dozen states are considering legislation that would make it illegal for companies to use the word "meat" to describe burgers or sausages that are made from plant-based materials or in labs.

  • This is the cattle ranchers lobby vs. the grocery lobby, and could present a particular challenge for a company with "meat" in its actual name.
  • There have been similar legal skirmishes over words like "egg" and "milk," with "chicken" most likely to follow as Tyson prepares to launch its own alternative protein product this summer.

Go deeper ... Scoop: Tyson Foods sells stake in Beyond Meat amid rising tensions

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Updated 15 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Politics: The swing states where the pandemic is raging — Pence no longer expected to attend Barrett confirmation vote after COVID exposure.
  2. Health: 13 states set single-day case records last week
  3. Business: Where stimulus is needed most.
  4. Education: The dangerous instability of school re-openings.
  5. States: Nearly two dozen Minnesota COVID cases traced to 3 Trump campaign events
  6. World: Restrictions grow across Europe.
  7. Media: Fox News president and several hosts advised to quarantine.

Republicans and Dems react to Coney Barrett's Supreme Court confirmation

President Trump stands with Judge Amy Coney Barrett after she took the constitutional oath to serve as a Supreme Court justice during a White House ceremony Monday night .Photo: Tasos Katopodis/Getty Images)

President Trump said Judge Amy Coney Barrett's Senate confirmation to the Supreme Court and her subsequent taking of the constitutional oath Monday was a "momentous day," as she she vowed to serve "without any fear or favour."

  • But as Republicans applauded the third conservative justice in four years, many Democrats including Speaker Nancy Pelosi (Calif.) warned of consequences to the rush to replace the late Justice Ruth Bader Ginsburg ahead of the Nov. 3 election, with progressives leading calls to expand the court.
Ina Fried, author of Login
58 mins ago - Science

CRISPR pioneer: "Science is on the ballot" in 2020

Photo: "Axios on HBO"

In her three decades in science, Jennifer Doudna said she has seen a gradual erosion of trust in the profession, but the recent Nobel Prize winner told "Axios on HBO" that the institution itself has been under assault from the current administration.

  • "I think science is on the ballot," Doudna said in the interview.

Why it matters: That has manifested itself in everything from how the federal government approaches climate change to the pandemic.