Television host Jim Cramer has posted a series of tweets on Beyond Meat Inc (NASDAQ:BYND) which urge bears to exit the shares of the meat substitute firm and make references to WallStreetBets investors.
What Happened: Cramer made a reference to the short squeeze in shares of AMC Entertainment Holdings Inc (NYSE:AMC) in a tweet and said that there is a “groundswell for the short busting” in Beyond Meat, which he said had “such great prospects.”
“I am thrilled that my friends at Wall Street Bets are so kind to me. I am getting much good personal feedback and am thrilled!!!”
The “Mad Money” also posted other confounding tweets on Beyond Meat targeting short sellers and extolling WSB investors.
Bears time to exit $BYND shorts as WSB has a new name it can use and they will rollover you like a tractor trailer over a squirrel
— Jim Cramer (@jimcramer) May 27, 2021
Wall Street Bettors, i am in your debt; i think there is much room to go on $BYND. Very glad i got the sellers to walk away. Again i thank everyone who has praised me on that one; impressive
— Jim Cramer (@jimcramer) May 27, 2021
Beyond Meat shares closed nearly 12.5% higher at $142.61 on Thursday in the regular session and rose another 4.14% to $148.52 in the after-hours session.
Why It Matters: On Thursday, Cramer had taken aim at AMC and GameStop short sellers calling them “out of their minds.”
Beyond Meat has a short interest of 25.21%, according to highshortinterest.com, a website that tracks stocks with short interest over 20%.
Cramer’s latest series of tweets could be a signal to retail investors on Reddit that Beyondmeat is ready to be short squeezed.
Year-to-date losses for AMC and GameStop Corporation (NYSE:GME) short sellers have widened to $8 billion, as per S3 Partners, Reuters reported.
AMC shares rose 35.58% to $26.52 in the regular session on Thursday adding another $634 million to short-seller losses. On the same day, GameStop shares closed 4.77% higher at $254.13 in the regular session.
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Photo: Courtesy of Beyond Meat