Beyond Meat (NASDAQ:BYND) stock is getting a boost on Thursday following comments that the plant-based protien company could be the next favorite of Reddit traders.
The comments come from TheStreet’s Jim Cramer during his Real Money column published on Tuesday. Here’s what he had to say.
“There’s the revolutionary cycle right now which includes GameStop, which has started a gigantic rally ever since management decided to raise equity by selling stock right into the maw of the r/wallstreetbets crew. AMC’s doing the same thing, staging a monster rally once it was able to raise capital on the backs of the r/wallstreetbets team. I keep waiting for these guys to adopt another target, a company with a big short position that could use money as it went higher. My pick would be Beyond Meat.”
Here’s what investors need to know about BYND stock following those comments.
- To start with, it looks like Reddit took Cramer’s advice.
- Shares of BYND stock are seeing heavy trading today alongside its rising price.
- As of this writing, more than 13 million shares of the stock have changed hands.
- That’s a massive jump over the company’s daily average trading volume of 3.1 million shares.
- Several posts over on Reddit WallStreetBets are calling for others to push it “to the moon.”
- That includes those mentioning Cramer’s comments as being behind the new interest in BYND stock.
BYND stock was rising 11.4% higher as of Thursday morning. This has the stock more than recovering from a dip earlier and may and puts it up 12.4% since the start of the year.
Beyond Meat is far from the only company seeing significant gains today.
Several other companies are also enjoying rallies today from excited investors. A few examples worth looking into are Vertex Energy (NASDAQ:VTNR), Zosano Pharma (NASDAQ:ZSAN), and another Reddit favorite, crypto miner SOS (NYSE:SOS). You can find out all the latest news about the stocks at the following links.
More Thursday Stock Market News
- VTNR Stock: The Big News That Has Vertex Energy Shares Rocketing Today
- ZSAN Stock: Why Zosano Pharma Is Racing Higher Today
- SOS Stock: How Redditors Are Fueling the Rise in SOS Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.