Beyond Meat stock is making an unexpected comeback. After years of disappointing results and falling prices, the share suddenly skyrockets hundreds of percent.
In just three days, the price rose by more than 600 percent, and investors are wondering: is this the start of a new hype?
Share rises 600 percent in three days
The price of Beyond Meat (BYND) rose 626 percent in less than a week. Last Thursday, the share fell to a low of $0.50. However, yesterday it closed the US trading day at $3.63.
Wat is Beyond Meat?
Beyond Meat is an American food company that focuses on plant-based meat substitutes. The best-known product is the Beyond Burger: a hamburger that resembles beef, but is completely vegetarian. The company went public in 2019 and benefited from enormous hype at the time. Within two months, the stock rose to an all-time high of $234.90. However, in the years that followed, it lost almost all of its value.
It will be even more spectacular, because the share continues to rise in the premarket. The price there is currently at $6.52, which represents an additional increase of about 80 percent. Compared to Monday, this amounts to a price gain of 1,204 percent.
Why is the stock rising so fast?
The recent price rally appears to have been sparked by two events. First, Walmart is expanding Beyond Meat’s range in the United States. From this week, both the Beyond Burger 6-pack and the Beyond Chicken Pieces will be available in 2,000 stores. According to traders, this expansion could provide significant growth in potential sales.
In addition, Beyond Meat is included in the Roundhill Meme Stock exchange-traded fund (ETF). This fund tracks stocks that are popular among retail investors, such as GameStop.
Trader makes millions in profit
A remarkable transaction causes even more commotion. One analyst points to an anonymous trader who bought $569,000 worth of BYND options last week, at a price of $17 each.
At the time of the X post, the investor was estimated to have already made more than $10 million in profits. If the premarket indication is correct, that amount could even rise to around $20 million.
Source: https://newsbit.nl/beyond-meat-aandeel-knalt-gigantisch-hard-omhoog-wat-is-er-aan-de-hand/
