Why Beyond Meat's Stock Is Roaring Higher

Beyond Meat, Inc. BYND shares are trading higher Tuesday amid a rally in meme stocks after retail investor Roaring Kitty made a return to social media. 

The Details:

The return of Roaring Kitty to social media has triggered a meme stock resurgence which began with shares of GameStop and AMC Entertainment and has extended to other stocks with high short-interest, including Beyond Meat. 

According to data from Benzinga Pro, 36.87% of Beyond Meat's float is being sold short. 

In June of 2021, Beyond Meat had a market capitalization of just under $10 billion which has dropped to approximately $516 million at present. The stock has fallen nearly 90% since 2021. 

Beyond Meat shares are moving on heavy trading volume amid the rally with more than 11.45 million shares already traded in Tuesday's session, compared to the stock’s 100-day average of 3.655 million shares.

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Should I Sell My BYND Stock?

Whether to sell or hold a stock largely depends on an investor's strategy and risk tolerance. Swing traders may sell an outperforming stock to lock in a capital gain, while long-term investors might ride out the turbulence in anticipation of further share price growth.

Similarly, traders willing to minimize losses may sell a stock that falls a certain percentage, while long-term investors may see this as an opportunity to buy more shares at a discounted price.

Shares of Beyond Meat have lost 1.7% year to date. This compares to the average annual return of -57.67%, meaning the stock has outperformed its historical averages. Investors can compare a stock's movement to its historical performance to gauge whether this is a normal movement or a potential trading opportunity.

Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Beyond Meat stock currently has an RSI of 62.13, indicating neutral conditions.

For analysis tools, charting data and access to exclusive stock news, check out Benzinga PRO. Try it for free.

BYND Price Action: According to Benzinga Pro, Beyond Meat shares are up 6.85% at $8.50 at the time of publication Tuesday.

Image: Courtesy of Beyond Meat, Inc.