Short Sellers Are Targeting Beyond Meat
∑ Short interest rises to 37% of free float: S3 Partners data
∑ Shares have underperformed Russell 1000 over past 12 months
By Lisa Pham, Bloomberg
January 13, 2022
Short sellers are piling into Beyond Meat Inc., making it the most shorted company in the Russell 1000 Index, as the shares struggle to gain momentum amid growing competition for plant-based meat.
Short interest stands at 37% of the companyís freely traded shares, the highest among stocks in the Russell 1000 Index, according to the latest data from financial analytics firm S3 Partners. Thatís risen from 26% at the start of October, and the move by sellers has picked up pace with short interest relative to tradable shares jumping more than 3% just last week.
Beyond Meat didnít immediately respond to an emailed request for comment.
When Beyond Meat went public in May 2019, it held one of the most sought after initial public offerings, and jumped 163% on its debut. But the company is struggling to turn the initial buzz into durable investor support. Beyond Meat shares have dropped 46% over the past 12 months, compared with a 21% gain for the Russell 1000 Index...
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