Analyst’s Squeeze Play: Can Beyond Meat, Aurora Cannabis Juice The Shorted Stocks?
A short squeeze forces investors betting on a stock’s decline (short sellers) to buy back shares at a higher price to avoid losses, triggering a price surge. Analyst Faizan Farooque sees this potential in Aurora Cannabis (NASDAQ: ACB) and Beyond Meat (NASDAQ: BYND) due to their recent actions and current market conditions.
Beyond Meat
Beyond Meat is facing a challenging environment with persistent inflation, competition from Impossible Foods and a notable drop in plant-based meat revenues.
The company’s net sales fell 18%, resulting in a net loss of $155.1 million. Despite these setbacks, Beyond Meat projects sales of $315 million to $345 million for 2024.
To counter these challenges, Beyond Meat introduced Beyond IV, a new product line boasting 75% less saturated fat and 20% less salt than traditional beef, and containing 21 grams of protein per …