Trends-UK

Beyond Meat shares jump after debt exchange settlement triggers short squeeze

** Shares of Beyond Meat BYND up 117% at $1.36

** Goldman Sachs sees the stock as having a 23.3% chance of having a one standard deviation move upward, representing a 46.4% gain, over the next week

** At Monday’s high of $1.53, BYND was up 135%, nearly a 3-standard deviation move, per Goldman’s calculations

** Co avoids near-term default despite significant dilution; share count rises from ~76.65 mln to over 400 mln following debt exchange settlement announced last week

** With current short interest last at about 64% of its total free float, the company is also among the most shorted U.S. stocks, data from analytics firm Ortex

** Including session’s moves, stock down ~46% YTD

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