IPO priced at $25. Opened for trading at $46 on Thurs., May 2, 2019
:crazy:
$98.72 : +$1.22 (+1.25%)
Day's Range: $94.05 - $105.25 (new intraday high)
https://investors.beyondmeat.com/new...results-june-6
May 20, 2019
EL SEGUNDO, Calif., May 20, 2019 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (Beyond Meat), a leader in plant-based meat, announced today it will report results for the first quarter ended March 30, 2019 on Thursday, June 6, 2019 after market close.
https://www.marketwatch.com/story/sh...ive-2019-05-29
Shorting Beyond Meat stock is beyond expensive
May 30, 2019
Meaty borrowing fees are keeping short sellers from adding to their bearish positions in Beyond Meats stock. Though short sellers were to quick bet against the shares after they soared in their initial days of trading, short activity has quieted down more recently, in part because the stock has become so expensive to borrow.
Beyond Meat shares now carry a stock-borrow rate of about 68%, according to data from S3 Partners, a financial technology and analytics firm, making it so would-be short sellers would have trouble achieving an attractive return on their investments after taking into account the borrowing cost.
A borrow fee of 68% makes Beyond Meat the most expensive stock to short of all U.S. stocks with over $100 million in short interest, Ihor Dusaniwsky, managing director at S3, told MarketWatch. Newly public Lyft Inc. ranks fifth with a 26% fee, which has come down in recent weeks.
With much of its stock held by internal holders or in non-lending retail hands, coupled with a relatively small float, there is little hope of a significant amount of stock landing in lending programs until its 180-day lockups expire on Oct. 29, Dusaniwsky said.
The maker of plant-based meat currently has the 14th-largest short interest in the food-products sector, recently crossing the $500-million threshold, but its quick rise up the league tables has been stalled by the high borrow costs and the paper losses that shorts have racked up thus far, Dusaniwsky said.
Analysts recently initiated coverage of Beyond Meat, with J.P. Morgan assigning the stock an overweight rating and a $97 price target while other analysts cautioned that the stock looked fairly priced after its massive post-IPO rally and set lower targets.
If Beyond Meats stock price moves to the upper end of the range, we would expect a short squeeze in the stock as the increased mark-to-market losses coupled with high stock borrow rates would be a one-two punch most short sellers would find hard to stomach, Dusaniwsky wrote. He added that a potential partnership with McDonalds Corp. could send its stock price soaring and short sellers incurring further losses, now that rival Impossible Foods Inc. has struck a partnership with Restaurant Brands International Inc.s Burger King.
:crazy:
$98.72 : +$1.22 (+1.25%)
Day's Range: $94.05 - $105.25 (new intraday high)
https://investors.beyondmeat.com/new...results-june-6
May 20, 2019
EL SEGUNDO, Calif., May 20, 2019 (GLOBE NEWSWIRE) -- Beyond Meat, Inc. (NASDAQ: BYND) (Beyond Meat), a leader in plant-based meat, announced today it will report results for the first quarter ended March 30, 2019 on Thursday, June 6, 2019 after market close.
https://www.marketwatch.com/story/sh...ive-2019-05-29
Shorting Beyond Meat stock is beyond expensive
May 30, 2019
Meaty borrowing fees are keeping short sellers from adding to their bearish positions in Beyond Meats stock. Though short sellers were to quick bet against the shares after they soared in their initial days of trading, short activity has quieted down more recently, in part because the stock has become so expensive to borrow.
Beyond Meat shares now carry a stock-borrow rate of about 68%, according to data from S3 Partners, a financial technology and analytics firm, making it so would-be short sellers would have trouble achieving an attractive return on their investments after taking into account the borrowing cost.
A borrow fee of 68% makes Beyond Meat the most expensive stock to short of all U.S. stocks with over $100 million in short interest, Ihor Dusaniwsky, managing director at S3, told MarketWatch. Newly public Lyft Inc. ranks fifth with a 26% fee, which has come down in recent weeks.
With much of its stock held by internal holders or in non-lending retail hands, coupled with a relatively small float, there is little hope of a significant amount of stock landing in lending programs until its 180-day lockups expire on Oct. 29, Dusaniwsky said.
The maker of plant-based meat currently has the 14th-largest short interest in the food-products sector, recently crossing the $500-million threshold, but its quick rise up the league tables has been stalled by the high borrow costs and the paper losses that shorts have racked up thus far, Dusaniwsky said.
Analysts recently initiated coverage of Beyond Meat, with J.P. Morgan assigning the stock an overweight rating and a $97 price target while other analysts cautioned that the stock looked fairly priced after its massive post-IPO rally and set lower targets.
If Beyond Meats stock price moves to the upper end of the range, we would expect a short squeeze in the stock as the increased mark-to-market losses coupled with high stock borrow rates would be a one-two punch most short sellers would find hard to stomach, Dusaniwsky wrote. He added that a potential partnership with McDonalds Corp. could send its stock price soaring and short sellers incurring further losses, now that rival Impossible Foods Inc. has struck a partnership with Restaurant Brands International Inc.s Burger King.