Overview
- Shares jumped 238% last week in a retail-driven short squeeze following inclusion in Roundhill’s Meme Stock ETF and a Walmart distribution update.
- The rally leaves the stock roughly 99% below its 2019 peak.
- The company guided to roughly $70 million in Q3 revenue, down about 14% from a year ago, after reporting $75 million in Q2 revenue and a $29.2 million net loss.
- A recent debt-for-equity swap slashed borrowings but created heavy dilution, with lock-up expiry on 316.2 million new shares coinciding with an Oct. 16 all-time low.
- Beyond Meat engaged AlixPartners and cut about 6% of staff as it explores fixes, with some commentary suggesting restructuring or bankruptcy remains a risk.