- Official Post
Beyond Meat made a big splash in 2012 when it introduced plant-based "meat" products to stores in the USA. Their competitor Impossible Foods even made a deal with Burger King to introduce the Impossible Whopper so the meat alternative section has been slowly permeating into the American psyche for at least 10 years now.
Historically, since IPO the stock hasn't done so well. Having launched at $105 and now recently existing as low as $1.47. The EPS is @TOP is -2.1400 with a 1 year estimate of $2.33. One could argue that the stock itself is not very enticing... that is, until Reddit joined the picture.
Most recently, the subreddit /r/10xPennyStocks/ noticed a couple of executive leadership positions accessing millions in shares, the CEO acquiring 4 million on his own. While a drop in the bucket of their issued 76.75 million outstanding shares, it's a big statement in the retail community. The hashtag #bullsarevegan is starting to generate some attention and I would believe that given its success on Monday, the stock has the week to run wild. The amount of short shares available is dwindling having gone from 8.1 mil to 2.5 mil (edit: as of 7:20 that number has surged back up to 10 mil) Similar to GME and AMC, the retail investors have been searching for a way to trigger the bullrun of GME from a few years back, and I don't blame them. To quote Randy Marsh "We have them by the balls Sharon, you wouldn't understand."
By scale, the community has 111,000 members, where mainly only 10% are actively posting. There are always lurkers. Say the community buys 10 shares a piece, that's 1,110,000 shares. Say the community buys 100 shares a piece, that's 11,100,000 which is almost 14% of total outstanding shares. Shit, some people are throwing a couple grand at the stock just to see what happens (allegedly).
This will be exciting to watch this week. Given the recent pattern of meme stocks, I don't believe the attitude towards this type of investing will go away anytime soon. Although remember this type of investing isn't for the faint of heart, within internet lore we call this type of investing with grit and determination... diamond hands.
Are you ready for the pump?