It excludes shares held by corporate insiders like executives, board members, and institutional investors. #1 - Float MattersĪ stock’s float refers to the number of shares that are available for public trading. As we’ve been reminded in recent weeks, it doesn’t take much for social media platforms to get behind an underdog. By Friday (8/19), the stock was back around $11.īack to Beyond Meat, the plant-based meat alternative producer has a few similarities to Bed Bath & Beyond that give it serious squeeze potential. Word that activist investor Ryan Cohen dumped his entire Bed Bath & Beyond stake accelerated a sharp downturn.
Second, the trip on the way down was especially rough.
The 393 million shares that exchanged hands on August 16th was by far the highest daily trading activity yet-and was preceded and followed by several high volume days. There were, however, two things that made this short squeeze quite different.įirst, the volume was enormous. It wasn’t the first time Bed Bath & Beyond went vertical for no reason, nor will it likely be the last. Traders bought more than $130 million worth of the popular meme stock which, on top of heavy options buying, forced short sellers’ hands in a big way. Last week shares of the specialty retailer soared as high as $30 despite an absence of news. ( NASDAQ: BYND) may have more in common with Bed Bath & Beyond than “meats” the eye. Besides the shared nomenclature, Beyond Meat, Inc.
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