Beyond Meat Stock Surges on Revenue Beat

Group 1 - Beyond Meat Inc's shares surged by 54.2% to $11.60 after announcing fourth-quarter earnings results that beat revenue estimates and plans to "steeply reduce" costs in 2024 [1] - There is potential for a short squeeze, with 23.36 million outstanding shares representing 38% of the total float, indicating that it would take shorts over eight days to cover their positions [1] - Following the earnings announcement, four brokerages raised their price targets, with the average 12-month target price at $6.80, reflecting a 30.3% discount to the previous close, and all analysts rated the stock as "hold" or "strong sell" [1] Group 2 - Today's options activity showed significant trading volume with 98,000 calls and 66,000 puts exchanged, which is 27 times the typical volume [2] - The stock reached a five-month high of $12.12 and moved above its 200-day moving average for the first time since August 2023, indicating bullish momentum [2] - Beyond Meat has reclaimed its year-to-date breakeven mark, now up 24.6% in 2024, although it remains down 37.7% year over year [2]