Shares of Beyond Meat jumped 12% Monday afternoon, nearing its all-time high, on investor optimism ahead of its earnings.
The stock is nearing its all-time high.A package of Beyond Meat beef crumbles is displayed for a photograph in Tiskilwa, Illinois, April 23, 2019.jumped 12% Monday afternoon, nearing its all-time high, on investor optimism ahead of its earnings.
At the beginning of May, the maker of plant-based meats priced its initial public offering at $25 per share. Since then, the company's stock is up around 693%, giving it a market value of about $12.0 billion. It hit an all-time high of $201.88 on June 18.highlighted an options strategy for investors looking to cash in on Beyond's stock volatility when it reports earnings. Options give buyers the right to buy or sell Beyond shares at an agreed-upon price and date.
Beyond will report its second-quarter results next Monday. Analysts surveyed by Refinitiv are expecting the maker of plant-based meats to report a loss of 8 cents per share and revenue of $52.7 million. Short sellers have also taken an interest in Beyond's hot streak. An investor who wants to short a stock borrows shares then sells them, betting that the price will drop by the time the borrowed shares must be returned.VIDEO
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