Beyond Meat Expects to Post Quarterly Revenue Above Estimates Amid Short Squeeze Frenzy
Beyond Meat said on Friday it expects about $70 million in third-quarter revenue, above analysts' estimates, as the faux meat maker's heavily shorted stock rose about 10% in premarket trading, extending its recent sharp rally.
Shares of the company have risen roughly 500% in the last week, fueling a fresh wave of buying among retail traders who have sparked meme stock frenzies on Wall Street in recent years.
The company has struggled with weak sales as demand dropped for its...
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