"Alternative meat company Beyond Meat saw its stock drop almost 5% in early trading on Tuesday after a significant rally had pushed shares up a day earlier and into premarket trading. As of around noon, the stock was trading at $1.28 a share after opening at $1.40. The volatility is another sign that the heavily shorted stock is being embraced by meme stock traders, with some seeking to lock in profits after shares rise. As of this writing, the stock is still up over 47% over the past five days."
"Original story: Shares in Beyond Meat (Nasdaq: BYND) are again rising in premarket trading today after the company's stock price surged a massive 36.4% yesterday. As of the time of this writing, BYND is up an additional 12.6% in trading before the bell. But is anything more than another round of meme stock mania driving the rising price? Here's what you need to know."
"A volatile December The first day of asset trading for December kicked off yesterday, and already the final month of the year looks to be shaping up to be a volatile one. 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."
Beyond Meat experienced dramatic short-term price swings after a multi-day rally. The stock surged roughly 36% in one session, climbed further in premarket trading, then fell nearly 5% the following day, trading near $1.28 after a $1.40 open. The heavily shorted position and a roughly 47% five-day gain attracted meme stock traders seeking profits or quick trades. Broader markets were unsettled as cryptocurrencies plunged and major indices slipped amid uncertainty over potential Federal Reserve rate cuts and concerns about an AI bubble, contributing to overall market volatility.
Read at Fast Company
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