Beyond Meat's comeback triggers record in retail trading

"The resurrection of Beyond Meat Inc.'s meme status not only lifted the producer of meatless burger patties from record lows, but also incited a frenzy of retail trading activity. Do-it-yourself investors traded furiously in Beyond Meat, quantum computing stocks, crypto-linked firms and more this week. On Tuesday, retail was responsible for 16% of total single-stock trading volume, the most on record in data stretching back to 2018, according to Citigroup Inc. Around $1.3 billion of total volume was traded on Tuesday alone, figures showed."

""BYND made a come-back as a popular meme stock, and traded more shares over the past 3 days than any other stock," strategists including Vivek Vishal wrote in a note dated Thursday, referring to Beyond Meat by its ticker symbol. "Citi's retail trading activity monitor is up sharply to all-time-high levels, driven by the re-emergence of BYND as a meme stock, among others." Beyond Meat was a retail-trader darling during the pandemic, alongside the likes of GameStop Corp. and AMC Entertainment Holdings Inc. Citi strategists pointed to the latest set of favorites that have emerged since President Donald Trump returned to the Oval Office."

"Retail activity showed little sign of subsiding on Thursday. Non-professional traders shelled out $895 million on stocks and exchange-traded funds as of 11 a.m. in New York, the top 14th percentile of readings going back a year ago, according to JPMorgan Chase & Co. They showed a preference for single stocks compared to ETFs and were heavy buyers of quantum computing names, as well as the SPDR Gold Shares ETF and the iShares Silver Trust."

Beyond Meat's revival as a meme stock lifted the company's shares from record lows and triggered intense retail trading. Retail investors accounted for 16% of single-stock trading volume on Tuesday, the highest share in Citigroup data since 2018, with about $1.3 billion traded that day. Citi's retail trading monitor reached all-time highs as BYND traded more shares over a recent three-day span than any other stock. Retail focus concentrated on crypto-linked firms, AI and quantum computing names, and gold and silver ETFs. JPMorgan data showed non-professional traders bought $895 million by late morning, favoring single stocks. Beyond Meat had previously slumped after creditors accepted a debt swap.

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