![]() ![]() Apes sent AMC up 19% to a four-month high – despite an after hours drop and poor earnings – after news of an “APE” dividend, Bed Bath & Beyond soared 32% after discontinuing one of its private labels and is now the most shorted stock on the Nasdaq, and second hand car brand Carvana revved 40% despite cutting guidance. Other trending tickers included faves like AMC, BBBY and CVNA.Trending on social streams all day, it seems BYND managed to get caught up in a meme stock short squeeze that saw a day of crazy gains despite a week of worse-than-expected news. ![]() Doesn’t sound great, right? No – but its stock skyrocketed nearly 22% on Friday despite falling 2% in Thursday’s after hours, hitting its highest level since early May.The plant-based brand reported a wider-than-expected loss and weak sales for the second quarter, paired with a lowered 2022 revenue forecast and plans to trim its workforce by 4% thanks to macroeconomic conditions. Beyond Meat’s earnings were beefy enough to disguise the taste of tofu at first, but came with none of the trimmings.The retail army gets stuck in Last week served up Q2 earnings from retail faves like Beyond Meat, and the day trading army rolls up its sleeves and tucks straight in despite some undercooked results. If the future is indeed vegan, it’s not looking particularly tasty rn. The fear of upcoming bad news from the Fed has seen Oat milk manufacturer Oatly drop by more than 8% last week and artificial meat producer Agronomics plummet by almost 10% over the same period. BYND’s not the only plant-based stock that inflation’s been munching into.It’s fallen pretty far from its all-time high of $234.90 per share in July 2019 after one of the most successful IPOs in recent years – maybe that’s what’s got him so fired up? The company's share price has been ‘beyond red’ recently, plummeting by almost 20% last week to reach a new all-time low of just $17 per share.The 53-year old Ramsay now faces charges of third degree battery, ‘terroristic threatening’ and perhaps even banishment from the vegan community – we can’t imagine they’re too fond of cannibalism. A man’s nose looked too delicious to resist as Beyond Meat COO Douglas Ramsay took a nibble during an altercation after a college football game.The bigger aim is to build on its success with Beyond Meat burger patties.Vegan exec consumes human nose Of all the tasty things that could tempt a vegan food exec to the dark side, a human nose was literally last on my bingo card. In addition, the company is diversifying and pushing deeper into the plant-based chicken segment with the distribution of its Beyond Chicken Tender to 8,000 new grocery and big-box retailers. However, BYND expects demand trends to pick up as it launches new products in the market later this year. In fact, revenue declined slightly in BYND’s recent fourth quarter, and the company is still significantly unprofitable. The company attracted a lot of attention when it first launched meat-alternative products like the Impossible Burger and Beyond Burger, but recent results have been disappointing in the last six months. BYND stock has declined from around $107 to $43 in the last six months, largely underperforming the broader indices, with the S&P growing about 2% over the same period. (Photo by Alex Tai/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty ImagesĪfter a 60% decline over the last six months, at the current price of around $43 per share, we believe Beyond Meat stock (NASDAQ: BYND), a plant-based meat alternative - could see gains. LOS ANGELES, UNITED STATES - 1: Plant-based Beyond Meat products seen in a Target.
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