Beyond Meat Is Costliest U.S. Short Bet After 700% Surge
(Bloomberg) -- 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 is 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 more than 700% 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 65% 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% |
To contact the reporters on this story: Jennifer Bissell-Linsk in New York at jbisselllins@bloomberg.net;Aoyon Ashraf in Toronto at aashraf7@bloomberg.net
To contact the editors responsible for this story: Brad Olesen at bolesen3@bloomberg.net, Richard Richtmyer, Jeremy R. Cooke
©2019 Bloomberg L.P.
-
A New Samvat Wishlist: Inclusive Prosperity And Human Development
India has strengthened its economic foundations through infrastructure, digital access and enterprise. Its next growth chapter must deepen productivity, create better livelihoods and widen participation in prosperity.
-
Love, Sex Aur Dhokha: The Audacious Plot To Spy On Jensen Huang
A Taipei dinner, a Singapore chip buyer and a suspected Chinese asset: inside the alleged spy operation that got close to NVIDIA's Jensen Huang.
-
Ten Things I Learnt This Samvat
Patience can be a trap. Cheap stocks can stay cheap. Leverage can wipe you out. What did Samvat 2082 teach us? Niraj Shah writes on 10 lessons from the year gone by.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
