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Beyond Meat among most shorted US companies

admin by admin
January 14, 2022
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Beyond Meat among most shorted US companies
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Quick-sellers are aiming to feast on plant-based protein firm Beyond Meat.

Past Meat at present ranks as one of many most-shorted shares available on the market, in keeping with information from analytics agency S3 Companions. Quick positions account for 37 % of the corporate’s freely traded shares, the best ratio amongst shares included within the Russell 1000 Index.

The ratio has elevated from 26 % in October, Bloomberg reported. Buyers have elevated guess in opposition to Past Meat over issues a few downtick in gross sales and sagging momentum for plant-based meat producers.

Past Meat didn’t instantly reply to a request for touch upon the pattern.

Shares of Past Meat have fallen greater than 30 % since October, when the corporate slashed its third-quarter income outlook. On the time, the corporate cited the damaging results of the COVID-19 pandemic, delayed shipments and an ongoing labor scarcity.

During the last 12 months, shares of Past Meat have fallen greater than 40 %.

Beyond Meat is one of the most shorted stocks in the market, according to analytics firm S3 Partners.
Past Meat is likely one of the most shorted shares out there, in keeping with analytics agency S3 Companions.
REUTERS//File Photograph

In November, Past Meat’s inventory plummeted after the corporate reported a wider-than-expected quarterly loss $54.8 million, and gross sales that fell in need of Wall Road’s expectations.

The slowdown in gross sales progress is a key motive for the rise in bets in opposition to Past Meat, in keeping with famous short-seller Jim Chanos.

Chanos advised the Financial Times that traders have anticipated enhancing numbers from plant-based meat corporations as they’ve gained acceptable with shoppers.

Short positions are 37 percent of Beyond Meat's freely traded shares.
Quick positions are 37 % of Past Meat’s freely traded shares.
AP Photograph/Gene J. Puskar, File

“The issue in Past Meat’s case is that it’s stopped being the case,” Chanos mentioned. “It’s a juxtaposition of the truth versus the hope.”

Past Meat has continued rolling out new partnerships in latest months. This week, KFC added plant-based “Beyond Fried Chicken” to its menu on a restricted foundation.



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