"Yesterday, cryptocurrencies plunged across the board as nervous investors sold off the digital tokens amid ongoing uncertainty about next week's potential Federal Reserve interest rate cuts and growing fears of an AI bubble. The broader markets seemed to be impacted by the same concerns, with the Dow Jones Industrial Average ending yesterday down 0.9%, the Nasdaq down 0.38%, and the S&P 500 down 0.53% according to data compiled by Reuters."
"BYND shares surged 36.48% yesterday, closing at $1.34 per share. That's a level that Beyond Meat's stock has not traded at since November 11, according to Yahoo Finance data. It's also just the latest surge for Beyond Meat shares in the latter part of this year. In October, the company's stock price surged from $0.52 per share to $7.69 per share over about a week after it signed a partnership agreement with Walmart."
Beyond Meat shares jumped 36.48% yesterday to close at $1.34 per share and rose about 12.6% in premarket trading today. Cryptocurrencies plunged amid uncertainty about potential Federal Reserve interest-rate cuts and fears of an AI bubble, weighing on major indexes, with the Dow down 0.9%, the Nasdaq down 0.38%, and the S&P 500 down 0.53%. Meme-stock investors aggressively bought Beyond Meat despite broader risk aversion, producing the latest surge after earlier October volatility when shares leapt from $0.52 to $7.69 following a partnership announcement with Walmart. Commentary suggested the rally was largely driven by meme trading.
Read at Fast Company
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