Beyond Meat Soars in Meme-Stock Frenzy

Beyond Meat became the latest meme stock, surging roughly 1,000–1,300% over about a week after retail buying was catalyzed by a Dubai-based trader (Dimitri Semenikhin, “Capybara Stocks”), its addition to the Roundhill MEME ETF, and company news including a creditor debt-swap, wider Walmart distribution and a new direct-to-consumer site. The stock peaked intraday at $7.69 before reversing most gains, closing near $3.58 and trading around $2.89–$3.05 in subsequent premarket sessions amid extreme volatility. The episode inflicted heavy losses and forced covers among short sellers—S3 Partners and Bloomberg report more than $120 million in mark-to-market losses since last Friday, about $45 million in year-to-date losses, and roughly 5.7 million shares bought to cover—while reported short-interest figures diverge, with S3/Bloomberg showing about 49% of the float and Ortex estimating short positions exceeding 100% of the free float. Market mechanics such as re-lending that allow short positions to surpass 100% of free float amplified the squeeze, producing rapid covers and sharp reversals. Observers warn the surge reflects social-media-driven speculation rather than improved fundamentals, leaving both day traders and short sellers exposed to large, fast moves.