Wednesday

when

Frenzy

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<p class="has-drop-cap">In a remarkable turnaround, Beyond Meat Inc. (NASDAQ: BYND) has witnessed its stock prices soar in <a href="https://tokenist.com/investing/how-to-trade-after-hours/" rel="noopener noreferrer nofollow" class="deco-link">premarket trading</a>, signaling a potential revival for the plant-based meat producer. This surge comes as the company announces <a href="https://www.reuters.com/business/retail-consumer/beyond-meat-tops-quarterly-revenue-estimates-2024-02-27/" target="_blank" aria-label="strategic price increases and significant cost-cutting measures (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">strategic price increases and significant cost-cutting measures</a>, aiming to revitalize its operations amidst a challenging economic climate. <br><br>With a notable <a href="https://tokenist.com/investing/short-selling/" rel="noopener noreferrer nofollow" class="deco-link">short squeeze</a> in play and analysts cautiously optimistic about its future, Beyond Meat embarks on a path to recovery, aiming to rebuild its market position and investor confidence.</p>
<h3 id="beyond-meat-shares-soar-amid-a-short-squeeze">Beyond Meat Shares Soar Amid a Short Squeeze</h3>
<p>Beyond Meat Inc.’s shares soared 56% in premarket trading Wednesday after the plant-based meat company said it would raise prices and make steep cost cuts to turn around flagging operations.</p>
<p>The surge, which added more than $300 million to the company’s market capitalization, came amid a frenzied short squeeze, with bearish investors down nearly $100 million on paper. Approximately 37.6% of Beyond Meat’s <a href="https://tokenist.com/investing/what-is-float-in-stocks/" rel="noopener noreferrer nofollow" class="deco-link">free float</a> was shorted as of Tuesday’s close, according to financial data company Ortex. Co-founder Peter Hillerberg <a href="https://money.usnews.com/investing/news/articles/2024-02-28/beyond-meat-soars-as-price-hikes-cost-cuts-plan-squeeze-highly-shorted-shares" target="_blank" aria-label="said (opens in a new tab)" rel="noopener noreferrer nofollow" class="deco-link">said</a> the squeeze was just beginning.</p>
<p>Beyond Meat’s stock has plunged 60% over the past year as the El Segundo, California-based company grappled with decreased demand attributed to higher prices amid rampant inflation. The company reported a 7.8% decline in fourth-quarter revenue and recently forecast a return to positive margins next year after restructuring efforts. While acknowledging substantial challenges, analysts and management were optimistic about Beyond Meat’s turnaround plans.</p>
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<h3 id="beyond-meat-stock-brief">Beyond Meat Stock Brief</h3>
<p>Shares of Beyond Meat Inc. soared nearly 60% in premarket trading Wednesday, with the plant-based meat company’s stock price spiking from $7.52 at Tuesday’s close.</p>
<p>The dramatic jump on the Nasdaq Stock Market followed a more modest 0.94% increase to finish at $7.52 on Tuesday, when 11.2 million Beyond Meat shares changed hands. The stock’s trading range was $7.22 to $7.84, compared with a 52-week range of $5.58 to $19.25.</p>
<p>Beyond Meat, based in El Segundo, California, has a market capitalization of $485 million and is projected to report first-quarter earnings between May 8 and May 13. For the trailing 12 months, the company has posted losses of $3.89 per share. Analysts estimate Beyond Meat’s stock will trade at $5.75 per share in one year, according to FactSet.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p><strong><em>Do you think Beyond Meat is cooking a market turnaround? Let us know in the comments below.</em></strong></p>
<p><em>Disclaimer: The author does not hold or have a position in any securities discussed in the article.</em></p>
<h3 id="br"><br></h3>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/beyond-meat-bynd-soars-in-premarket-frenzy-amid-a-short-squeeze/">Beyond Meat (BYND) Soars in Premarket Frenzy Amid a Short Squeeze</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Beyond Meat (BYND) Soars in Premarket Frenzy Amid a Short Squeeze

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