Beyond Meat Gets the Meme Stock Treatment
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Beyond Meat shares erased a gain of 112% on Wednesday, capping a turbulent run for the latest company to be swept up in the revival of a meme-stock frenzy that’s repeatedly emptied the pockets of day traders.
The struggling maker of plant-based burgers began the session by surging as high as $7.69, extending a week-long spike that had pushed the price up more than 1,300%. But then it gave back the gains to tumble more than 27% before ending down 1%.