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Past Meat rallied for a 3rd straight day Wednesday as meme merchants leap on the inventory.
The meals firm recognized for its plant-based burgers and sausages surged 111% at one level within the premarket Wednesday. It final traded above $6.43 per share in prolonged buying and selling, up 77%, after closing Tuesday at $3.62.
It is the newest in a rare week for the inventory. On Monday, the inventory rallied greater than 127% after Roundhill Investments, which develops thematic ETFs, added the identify to its Roundhill Meme Inventory ETF (MEME).
That call appeared to have the added impact of driving a brief squeeze within the inventory, as traders rushed to cowl their place. Based on FactSet information, greater than 63% of the shares obtainable for buying and selling had been bought quick.
On Tuesday, Past Meat soared 146% in its finest day ever, after saying it would increase distribution at Walmart’s shops.
Past Meat, year-to-date efficiency
Shares of Past Meat have been below stress for a very long time. After making its public debut in 2019, when the inventory soared previous $230 per share, it has since grow to be a penny inventory. The inventory has slid in every of the final 5 years, falling greater than 47% in 2021, 81% in 2022, 27% in 2023, and 57% in 2024. It is down greater than 3% in 2025.
The most recent unhealthy information for the inventory got here final week, when shares tumbled greater than 67% to finish the week at simply 65 cents after Past Meat mentioned it has finalized a debt deal.
This week’s comeback, nevertheless, is harking back to the peak of the pandemic, when retail merchants took to on on-line message boards comparable to WallStreetBets to coordinate strikes behind high-risk, aggressive trades.
In 2021, Financial institution of America mentioned Past Meat was a Reddit inventory to look at, although it ended that very same yr with losses.
The return of Past Meat may very well be the newest sign of a frothy market, one that’s relentlessly climbing larger despite issues round elevated valuations and a attainable AI bubble. Certainly, Roundhill shut its meme ETF down at one level due to lack of curiosity. It revived it earlier this month as retail merchants dove again into the bull market.
In response to somebody on Reddit’s on-line discussion board WallStreetBets saying they purchased 10,000 shares of Past Meat for $7.50, one commenter wrote Wednesday, “Youre already down 7k, spectacular.”
One other posted: “You recognize the economic system is cooked when BYND inventory is making a comeback.”
