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.
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.