Is This New IPO a Better Food Stock Than Beyond Meat?

Oatly Group (NASDAQ: OTLY) is a plant-based milk company, specifically focused on oats, that went public in May. Its stock price has already gained almost 20%, going from a first-day closing price of $22 to $26 as of Wednesday morning. Investors appear moderately confident about Oatly's prospects, but it didn't rocket higher in its first day or week of trading -- unlike, for example, fellow plant-based food company Beyond Meat (NASDAQ: BYND), which more than doubled on its IPO day. Oatly's oat-based empire booked sales of more than $420 million in 2020, a 106% year-over-year increase.