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Beyond meat inc. Now is the most expensive action to borrow among active short targets, while lending fees continue to skyrocket.
Actions beyond the meat
BYND, + 21.24%
The company, which makes plant-based meat substitutes, has jumped 69% in the last two trading sessions, but short sellers are still hungry to be able to bet on the stock on fire. Short-term securities borrowing fees reached 134% in Monday's session, according to S3 Partners, the financial and analytics technology company, and could exceed 150% by the end of the week.
Previously: Shorting beyond the meat stock is more expensive
Short-term interest amounts to $ 814 million, or 5.87 million shares, representing more than 50% of Beyond Meat's capital. Beyond Meat is the sixth-largest short-term bet in the packaged food and meat sector in the domestic market, but market price declines are down to $ 574 million, while stocks continue to climb. The stock is up 570% over the price of its $ 25 initial bid from May 2nd.
Look also: After the first profit report, the meat stock increases considerably
'Beyond the meat hit the tripta of short-pressure, with several hundred thousand actions rappels hitting the street; The stock borrowing rate is strong in all three digits and its share price has risen by 69% in just two days, "Ihor Dusaniwsky, S3 Managing Director, wrote on Monday.
The company has the potential for a "Tesla-esque" situation on his hands, said Dusaniwsky, though the shorts are not beginning to cover their positions soon. By this he meant that more than Beyond Meat shareholders would take a "life decision" rather than a simple call for an investment, through their shareholding. For short sellers, bearish bets could represent "more a test of conviction and principle" rather than a hunt for immediate profit.
But it remains to be seen whether the Beyond Meat shorts will have the same Teflon character as Tesla Inc.
TSLA, + 4.10%
shorts. "There is a very good chance that there will be a short compression of Beyond Meat in the very near future," wrote Dusaniwsky. "In the absence of an additional short and powerful short-term business, Beyond Meat's share price should continue its upward trajectory with very little opposition."
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