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Beyond Meat (BYND) Joins the Meme Stock Party

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Shares meat alternative producer Beyond Meat (BYND - Free Report) spiked sharply in Thursday morning trading as r/WallStreetBets traders turned their attention to BYND. The stock closed up 12.5% after a wild day of trading.

In his “Real Money” column yesterday, Jim Cramer said BYND could be a good candidate for the next meme stock rally due to the company’s near-term potential, expansion of its deal with McDonald’s (MCD - Free Report) , and the hefty 22% short interest in the stock.

BYND recently reported a wider-than-expected Q1 loss as expenses ballooned and restaurant sales slowed. But some analysts are still bullish on the stock. Sanford C. Bernstein analyst Alexia Howard upgraded BYND to outperform, and called the stock a “buy-the-dip” contender during the economic reopening.

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McDonald's Corporation (MCD) - free report >>

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