Beyond Meat surges 80% in pre-market amid meme stocks optimism 📈

Key takeaways

Beyond Meat surges 80% in pre-market, up almost 80% since the last Friday
The company has signed a deal with the US retail giant Walmart (WMT.US)
Dimitri Semenikhin comments on Beyond Meat optimism

Key takeaways

Beyond Meat surges 80% in pre-market, up almost 80% since the last Friday
The company has signed a deal with the US retail giant Walmart (WMT.US)
Dimitri Semenikhin comments on Beyond Meat optimism

Shares of Beyond Meat (BYND.US) surged more than 80% on Wednesday amid the ongoing meme-stock rally — a wave of rapid gains fueled by online investor communities.

The plant-based food producer, which has struggled in recent quarters and continues to report net losses, surprised Wall Street by announcing an expanded partnership with Walmart. Beyond Meat products will now be available in more than 2,000 of the retailer’s stores across the United States.
However, this isn’t the only factor driving the surge. On social media, popular trader Dimitri Semenikhin, known as Capybara Stocks, revealed that he had purchased millions of Beyond Meat shares, calling the company “undervalued.”
Since Friday, the stock’s price has soared more than 800%, with the euphoric rally in Beyond Meat reflecting the broader momentum of the current bull market on Wall Street. Today not only Beyond Meat but also another 'meme-stocks' and donuts producer, Krispy Kreme (DNUT.US) gains 20%.

BYND.US and DNUT.US D1 charts

Source: xStation5

Source: xStation5

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