Just a heads up. Be warned:
Reddit Army Squeezes Beyond Meat A Week After Debt-Swap Dilution Deal
Fake food company Beyond Meat, once endlessly promoted by globalist corporate media trying to convince the nation that cow farts are bad and fake meat is good, has been locked in a near five-year bear market. It seems that Redditors and the company's press release are squeezing shares higher. However, a recent debt swap for equity will substantially dilute shareholders. We've seen this story before, and it never ends well.
News this morning that Beyond Meat plans to expand its fake food products to over 2,000 Walmart stores nationwide sent shares up 60% in premarket trading. The surge is likely due to a combination of the Reddit army of day traders catching on that hedge funds have been heavily shorting the stock.
Beyond Meat's latest short interest data show that 54% of the company's publicly available shares are short, or about 39.59 million shares. Based on the average daily volume of around 9 million shares traded per day, it would take 4.44 days for shorts to cover.
Meanwhile, day traders on Reddit's WallStreetBets page are all about BYND...
Reddit Army Squeezes Beyond Meat A Week After Debt-Swap Dilution Deal