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Investing.com -- Beyond Meat (NASDAQ:BYND) stock soared 70% in pre-market trading Monday, rising from $0.64 to $1.08, continuing momentum after Friday’s 24% gain.
The plant-based meat alternative company’s shares are experiencing significant upward pressure amid growing interest in small-cap stocks with high short interest. According to recent data, approximately 10.5% of Beyond Meat shares are held short, representing about 39.6 million shares with days to cover of around 4.4, making the stock vulnerable to a potential short squeeze.
Beyond Meat’s status as a recognizable consumer brand appears to be amplifying the effect, potentially positioning it as a "meme stock" among retail investors. Friday’s trading had already seen shares climb from $0.52, setting the stage for today’s dramatic pre-market surge.
The stock movement comes despite no fundamental company news or announcements, suggesting the price action is primarily technical in nature and driven by short-covering and speculative trading rather than changes in the company’s business outlook.
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