Bets Against Beyond Meat Continue to Climb With Stock
(Bloomberg) -- After its third straight day of gains on Wednesday, Beyond Meat Inc. is trading at more than triple its $25 initial public offering price. But despite the traction -- the latest fuel coming from select Tim Hortons stores testing breakfast options with the Beyond Meat Breakfast Sausage patty -- short sellers now account for more than 35 percent of the faux-meat producer’s free float, according to IHS Markit data. The stock’s post-IPO run-up saw Freedom Finance JSC’s Erlan Abdikarimov -- one of only two analysts covering the company -- revise his recommendation to hold from buy.
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