Television host Jim Cramer has posted a series of tweets onBeyond Meat Inc(NASDAQ:BYND) which urge bears to exit the shares of the meat substitute firm and make references to WallStreetBets investors.
What Happened:Cramer made a reference to the short squeeze in shares of AMC Entertainment Holdings Inc(NYSE:AMC) in atweetand said that there is a “groundswell for the short busting” in Beyond Meat, which he said had “such great prospects.”
“I am thrilled that my friends at Wall Street Bets are so kind to me. I am getting much good personal feedback and am thrilled!!!”
The “Mad Money” also posted other confounding tweets on Beyond Meat targeting short sellers and extolling WSB investors.
Beyond Meat shares closed nearly 12.5% higher at $142.61 on Thursday in the regular session and rose another 4.14% to $148.52 in the after-hours session.
Why It Matters:On Thursday, Cramer had takenaim at AMC and GameStop short sellerscalling them “out of their minds.”
Beyond Meat has a short interest of 25.21%, according to highshortinterest.com, a website that tracks stocks with short interest over 20%.
Cramer’s latest series of tweets could be a signal to retail investors on Reddit that Beyondmeat is ready to be short squeezed.
Year-to-date losses for AMC andGameStop Corporation(NYSE:GME) short sellers havewidened to $8 billion, as per S3 Partners, Reuters reported.
AMC shares rose 35.58% to $26.52 in the regular session on Thursday adding another $634 million to short-seller losses. On the same day, GameStop shares closed 4.77% higher at $254.13 in the regular session.
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