What happened: Beyond Meat (BYND) rose for a seventh straight session on Tuesday.
Why the stock is moving: Beyond Meat is spiking on heavy volume and elevated call buying options, likely driven by short covering and meme-stock momentum rather than fundamentals. Short interest on the stock is 31% of the float, a relatively high level.
The stock has risen more than 90% over the past seven sessions.
What else you need to know.
Beyond Meat has been trading like a meme stock in recent years as the craze for meat alternatives fizzled out.
Shares are up more than 40% year-to-date, but down 99% from their all-time record of around $234 in 2019 shortly after the company went public.
Weakening sales and persistent operating losses have weighed on the stock. Consumers have pulled back from meat alternatives amid high prices and concerns over processed ingredients.
Ines Ferre is a senior business reporter for Yahoo Finance. Follow her on X at @ines_ferre.
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