Beyond Meat shares surge over 1,000pc in ‘meme stock’ frenzy

Core Viewpoint - Beyond Meat's share price has surged nearly 1,300% in under a week, driven by meme stock investors and social media speculation, despite the company's underlying challenges [1][2]. Company Overview - Beyond Meat, founded in 2009, specializes in plant-based meat alternatives, with products sold in major restaurants like McDonald's [3][4]. - The company had a notable IPO in 2019, achieving a market value of $14 billion at its peak, but has since faced significant declines [4]. Recent Stock Performance - The stock has become the most traded on Wall Street, with a market capitalization of $2.5 billion, surpassing trading volumes of larger companies like Tesla and Nvidia [2]. - Despite the recent surge, the company reported a nearly 20% decline in sales to $75 million and an operating loss of $35 million in its latest quarterly results [5]. Investor Activity - The surge in share price has been partly attributed to a Dubai-based trader, Dimitri Semenikhin, who has actively promoted the stock on social media [6]. - Beyond Meat's shares were added to a meme ETF, reflecting the growing interest in meme investments [8]. Market Context - The "wallstreetbets" forum has played a significant role in driving interest in Beyond Meat, similar to past trends seen with other stocks like GameStop [7].