Beyond Meat, Inc. (BYND) surged 5.22% in pre-market trading on Tuesday, continuing its momentum from the previous session's sharp gains. The stock's rise comes despite no new company-specific announcements or filings.
The movement appears driven by speculative trading activity, with traders rotating into volatile, high-beta names like Beyond Meat amid renewed interest in meme stocks. The trend was potentially influenced by GameStop's resurgence on social platforms, drawing attention to heavily shorted consumer stocks. Beyond Meat, a turnaround story with elevated short interest, may have benefited from this sentiment shift, though fundamentals remain unchanged.
Unusual options activity also contributed to the surge, with call options for Beyond Meat expiring this week skyrocketing over 700% on Monday. This indicates heightened bullish sentiment among traders, despite the company's recent weak earnings report and guidance.