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Why Is Beyond Meat (BYND) Stock Rocketing Higher Today

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What Happened?

Shares of plant-based protein company Beyond Meat (NASDAQ: BYND) jumped 129% in the afternoon session after the company announced it was expanding its partnership with Walmart, amid a strong retail frenzy in recent trading sessions which triggered a short squeeze. 

The deal also made Walmart one of the first national retailers to offer the new Beyond Burger 6-Pack in a convenient value format. This positive business update added significant fuel to a rally that had been building in previous sessions, driven by heavy interest from retail investors and a massive short squeeze. With reports indicating that over half of the company's available shares were sold short, investors who had bet against the stock were forced to buy shares to cover their positions as the price climbed. This buying pressure, combined with a huge spike in trading volume, sent the stock soaring.

After the initial pop the shares cooled down and closed the day at $3.63, up 148% from previous close.

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What Is The Market Telling Us

Beyond Meat’s shares are extremely volatile and have had 58 moves greater than 5% over the last year. But moves this big are rare even for Beyond Meat and indicate this news significantly impacted the market’s perception of the business.

The previous big move we wrote about was 6 days ago when the stock gained 1.9% on the news that the stock attempted a slight recovery following a sharp decline in previous sessions that was driven by its new debt restructuring plan. The plan involved a debt swap, but it also included the issuance of up to 326 million new shares. This news concerned investors because the number of new shares was more than four times the existing amount, which would significantly dilute the value of current holdings. In response to the dilution fears, the stock had plunged almost 50%, falling well below $1 per share. The company's financial struggles were compounded by weak demand for its products, with net revenue down 15% in the first six months of the year.

Beyond Meat is down 3.1% since the beginning of the year, and at $3.73 per share, it is trading 43.3% below its 52-week high of $6.58 from November 2024. Investors who bought $1,000 worth of Beyond Meat’s shares 5 years ago would now be looking at an investment worth $20.97.

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