Beyond Meat (BYND) experienced a dramatic 146.26% increase in its stock price during a single trading session, driven by heightened interest from retail investors. The stock, which had previously hit a low of $0.60, has become a focal point for the Reddit community WallStreetBets, where discussions of potential short and gamma squeezes are prevalent. Currently, over 63% of BYND's float is shorted, and the stock has been included in the Roundhill Meme Stock ETF (MEME).
The surge in Beyond Meat's stock price is reminiscent of the 2021 GameStop (GME) phenomenon, with some traders employing up to 5x leverage on platforms like Vest to capitalize on potential further gains. Despite the similarities to the GME event, the article notes that the outcomes for Beyond Meat may vary.
Beyond Meat Stock Soars 146% Amid Retail Investor Surge
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