ByTy Roush,
Forbes Staff.
A dayslong rally continued Wednesday for Beyond Meat, whose shares have jumped more than 1,000% since hitting a new low last week, as traders flocked to the plant-based meat distributor’s stock as the next meme asset.
Shares of Beyond Meat surged 63% to around $5.80 shortly after trading opened Wednesday, adding to a rally that began Oct. 17 and setting an intraday high for the year so far.
Beyond Meat’s stock hit an all-time intraday low of $0.50 on Oct. 16, capping what was a 75% decline on the week after the company announced its creditors had accepted a debt swap that would substantially dilute shareholders.
