Beyond Meat (BYND) stock has become the latest meme stock sensation, as it surged over 80% in a single trading session yesterday despite Wall Street's negative outlook. The plant-based meat maker's shares jumped from around $0.65 to $1.19 as retail investors piled in, driving trading volumes to 31 times the three-month average. Today, BYND stock jumped another whopping 135% to around $3.50. Short interest sits above 51%, creating the perfect setup for a squeeze that retail traders love to exploit.
The high price target for BYND stock suggests potential upside of more than 10% from current levels, though that still values shares at just $4. And that's quite the optimistic take, considering BYND's mean target of just $2.36. And several analysts have gone further, with some arguing the stock's intrinsic value is essentially zero given the company's fundamental challenges.
