Beyond Meat rallies on meme ETF inclusion and Walmart distribution

Shares of Beyond Meat surged sharply this week as a wave of retail buying and two company developments combined to lift the plantbased meat maker’s stock from an all time low and force intense trading activity. The stock, which fell as low as $0.50 last week, climbed across several sessions after being added to a meme stock exchange traded fund and after the company announced expanded distribution at Walmart stores, prompting a short squeeze and unusually high turnover in late October.

Trading data showed turnover far above the company’s normal volume, with more than 800 million shares changing hands on October 20, well above an average daily volume near 20 million. The stock hit multiday highs in the sessions following the announcements, at one point trading above $3 per share after last week’s lows and closing significantly higher than the prior week’s close. Market participants pointed to two immediate catalysts: an inclusion into the Roundhill Meme Stock ETF and news that Beyond Meat’s Beyond Burger 6-pack and Beyond Chicken Pieces will be available at roughly 2,000 Walmart stores nationwide.

Retail investor interest also intensified after an online trader who identifies...