Beyond Meat Short-Sellers Take a $155 Million Beating in Rally

(Bloomberg) -- Beyond Meat Inc. short sellers are sitting out the celebration over the faux meat maker’s first earnings report as a public company, which sent its shares up as much as 36%.

“Shorts are down $155m mark-to-market on today’s move,” Ihor Dusaniwsky, head of research for financial analytics firm S3 Partners told Bloomberg News in a message. “Today’s move brings year-to-date losses in the name to $321m or 72%.”

Almost 5.9 million shares of Beyond Meat are held by short sellers, or 51.3% of the float, representing $583 million, according to the S3 data.

“There is virtually no lendable stock left to borrow,” Dusaniwsky wrote. “We have seen new slivers of borrows going for 325% to 650% fees and rates will stay high until some of the shorts get squeezed out of their positions and supply is replenished with their stock loan returns.”

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