Beyond Meat Surges 87% in Two Days

(Bloomberg) -- Beyond Meat Inc. shares continued to soar on Monday, after the faux meat-maker’s first earnings report as a public company wowed analysts and investors, prompting a nearly 40% jump in the stock price on Friday.

Shares of the company, which started trading on May 1, gained as much as 34% on Monday, touching a record high of $186.43. The shares are now up a staggering 646% from the initial public offering price of $25.

The rally has come as a rude shock to bearish investors in the stock. About 51% of Beyond Meat’s free float is held short, with a notional value at $813 million, according to financial analytics firm S3 Partners.

Short investors in the stock were down $229 million in mark-to-market losses on Friday, and down $398 million year to date, according to S3 Partners’ Ihor Dusaniwsky.

To contact the reporter on this story: Esha Dey in New York at edey@bloomberg.net

To contact the editors responsible for this story: Courtney Dentch at cdentch1@bloomberg.net, Scott Schnipper

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