Food and Beverage Sector Ideas

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>>> Beyond Meat Is Most Expensive U.S. Short Bet After 680% Surge


By Jennifer Bissell-Linsk and Aoyon Ashraf

July 31, 2019


https://www.bloomberg.com/news/articles/2019-07-31/beyond-meat-is-most-expensive-u-s-short-bet-after-680-surge?srnd=premium


Looking to short Beyond Meat Inc. in the wake of the veggie-burger maker’s post-IPO rally? The cost of doing so is now the highest among all U.S. stocks.

Short sellers paid the highest bid and offer borrow rate of 110%/138% on Beyond Meat, with the last transaction going off at 197%, indicating that supply for shares to borrow are declining quickly, according to July 30 data from financial analytics firm S3 Partners. That’s more than more than double the cost of the second-most expensive short bet, Overstock.com Inc.

Beyond Meat has surged 680% since its May 1 debut. Short bets total $1.2 billion of market value. About 5.2 million shares are borrowed for short selling, almost 45% of the company’s free float.

Meanwhile, Overstock.com, which has long been the target of short sellers, has seen its stock fall roughly 75% since 2018 when it decided to pivot to cryptocurrencies. It has 17.9 million shares or 63% of its float shorted.

Rounding out the list from S3 are some names that have attracted a cult like following as well. Turtle Beach, which captivated investors during the Fornite craze last year, at one point rose nearly 750% over a quarter. Pareteum also made the list.

Ticker Short interest SI % Float Bid Offer Last

BYND $1,156,910,794 44.45% 110.45% 137.87% 197.10%
OSTK $395,430,521 63.21% 54.84% 68.62% 80.26%
INS $55,198,278 37.83% 54.47% 68.12% 65.23%
TEUM $77,668,034 21.99% 46.24% 57.62% 61.69%
HEAR $57,305,444 43.70% 32.28% 40.12% 43.69%
PLUG $104,740,724 19.20% 30.02% 37.62% 35.15%
NBEV $79,908,434 38.87% 26.89% 33.62% 33.10%
AXDX $299,290,301 56.30% 26.89% 33.37% 43.84%
DDS $631,319,030 82.61% 26.01% 32.62% 82.31%
HIIQ $159,283,664 68.53% 22.47% 28.12% 27.30%

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