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Beyond Meat
27-09-2019, 06:38 PM.
Post: #1
Beyond Meat
Beyond Meat shorts lose over $80 million in one day as stock surges on McDonald’s partnership
* Investors betting against Beyond Meat’s stock lost more than $80 million in mark-to-market losses as the stock jumped on Tuesday, according to S3 Partners analyst Ihor Dusaniwsky.
* The alternative meat maker will see its plant-based burgers tested at McDonald’s in Canada, an announcement that sent shares of Beyond Meat climbing.
* “BYND has been a major short sale target since its IPO and short sellers have already maxed out stock borrow availability in the stock,” Dusaniwsky said in a note.

Michael Sheetz
PUBLISHED THU, SEP 26 2019  4:52 PM EDTUPDATED MOMENTS AGO

Beyond Meat stock jumped on Thursday and that’s putting pressure on the hundreds of millions of dollars that investors have bet against the stock.

The alternative meat maker will see its plant-based burgers tested at McDonald’s in Canada, an announcement that sent shares of Beyond Meat up 11.6% in trading. The move also meant those shorting the stock lost more than $80 million in mark-to-market losses on the day, according to S3 Partners analyst Ihor Dusaniwsky. Short positions have now lost more than $730 million in market-to-market losses, S3 foound.

“BYND has been a major short sale target since its IPO and short sellers have already maxed out stock borrow availability in the stock,” Dusaniwsky said in a note.

Beyond Meat’s short interest totals $746 million. Dusaniwsky says the company is the seventh-most shorted stock among U.S. packaged foods and meats companies.

[Image: bynd_short_interest.1569527774982.png]

More details in https://www.cnbc.com/2019/09/26/beyond-m...nalds.html
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