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Beyond Meat Stock Surges Over 100% in 24 Hours Amid Short Squeeze Frenzy
Beyond Meat Stock Surges Over 100% in 24 Hours Amid Short Squeeze Frenzy
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BTCCSquare news:
Beyond Meat shares more than doubled in a single trading session, fueled by a coordinated short squeeze reminiscent of the meme stock mania during the COVID-19 pandemic. The plant-based meat company, which has lost 99% of its value over the past five years, saw trading volume explode to 700 million shares—35 times its daily average—as retail traders on Reddit and X targeted its heavily shorted float.
With 54% of its shares sold short as of September 30, Beyond Meat became a prime candidate for a squeeze. The rally occurred despite recent dilution concerns, after the company issued 316 million new shares through a convertible notes offering last week—a MOVE that had previously sent the stock plunging 75%.
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