BYND - Why Beyond Meat's Stock Is Roaring Higher | Benzinga
Beyond Meat, Inc. (NASDAQ:BYND) shares are trading higher Tuesday amid a rally in meme stocks after retail investor Roaring Kitty made a return to social media.
The Details:
The return of Roaring Kitty to social media has triggered a meme stock resurgence which began with shares of GameStop and AMC Entertainment and has extended to other stocks with high short-interest, including Beyond Meat.
According to data from Benzinga Pro, 36.87% of Beyond Meat's float is being sold short.
In June of 2021, Beyond Meat had a market capitalization of just under $10 billion which has dropped to approximately $516 million at present. The stock has fallen nearly 90% since 2021.
Beyond ...