Market Flash on Beyond Meat (BYND)

Beefing With the Shorts: Beyond Meat Meme Mania

The retail investing community is at it again as Beyond Meat (BYND US) is the latest meme stock to hit the news. Shares of plant-based food company were up as much as 1,000% on October 22 following the completion of a convertible debt swap that diluted the share price as low as $0.50 on October 16. The subsequent surge was largely driven by retail investors pumping up the stock on Reddit and YouTube.

As the stock price dropped from $2 to $0.50 from October 10 to 16, EquiLend saw a 5,000% jump in Social Media Mentions hinting at the retail pressure and signaling the imminent price surge.

What will be interesting now is how the shorts will react. Following the completion of the convertible debt swap, EquiLend Availability has increased from less than 200,000 shares to more than 26 million. With plenty of supply in the securities finance market shorts may be betting against the recent meme pop. EquiLend’s Real-Time Data shows that an additional 1 million shares have been borrowed on October 22. Be sure to subscribe to EquiLend Data & Analytics to get real-time updates on the Retail vs Shorts BYND battle!

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Bloomberg Terminal users can subscribe to EquiLend’s exclusive short selling and financing data by entering terminal shortcut APPS ORBISA <GO> or clicking the following link: https://on.equilend.com/bloomberg-terminal-page.