Beyond Meat Rally Driven by Meme Stock Dynamics

4 days ago

Christine Aino

"We got to take a look at Beyond Me, Paul. I mean, >> Tom Keane, we were not allowed to talk about Beyond Me. We can talk about it to our heart's content over here because that stock is roaring. Uh so Beyond Me ticker B Y ND earlier actually it was halted because of the volatility but before it was it rose as much as 73%. Now that stock is trading again and it is currently up 60%. It's just been a crazy rally like nearly 4 days up nearly 1300%. And it started on Friday. Started on Friday because there was a business insider report that apparently there is a trader who's been touting the stock on social media and that kind of just gave rise to the meme stock feeling of it all. So it is the latest darling of that movement and the theory is that now that rally is being juiced by all these traders who previously were heavily short on the stock now trying to cover their shorts. uh because 64% of the shares available for trading had been sold short at the end of September. That's a lot of shorts to cover and that's why we're seeing this uh gang busters rally today."

The speaker highlights Beyond Meat (BYND) experiencing a wild rally fueled by meme stock dynamics and short covering, noting extreme volatility and rapid gains over the past few days.

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