Wednesday

when

Frenzy

<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<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>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">Telegram group&nbsp;and never miss a breaking story.</a></p>
 </div>
</div>
<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

Table of Contents

Tokenist

Other articles published on Feb 28, 2024

ALEX Lab (ALEX) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

Anthony Scaramucci counters James Dimon’s opinion on Bitcoin

Uniswap (UNI) hits $10 post governance announcement, as Pushd (PUSHD) secures more Ethereum (ETH)...

Kraken Launches New Division for Institutional Crypto Services

The best performing cryptos of the day: Portal, Theta network, and Stacks!

Red Bull Racing Teams Up with Tezos in Crypto Partnership

Join our free newsletter for daily crypto updates!