I’ve previously written several times about the absurdity of Beyond Meat’s valuations, and what the market thinks the company would do.
I’ve also been shorting BYND by selling naked calls on it for the past several months, and BYND has been extremely well behaved, going in an almost linear fashion downwards. I’ve answered some queries on shorting BYND, and have also put up some of my short options (the ones that haven’t expired then):
Yet, tonight, it all comes to a head.
BYND’s top shareholders and insider’s shares lock-up expires after 6mths post-IPO, and they are freely traded tonight.
Finally, after months of extremely, totally, mind-blowingly ridiculous over-valuation, BYND has now tanked to being just ridiculously over valued.
A 20% drop in a single day is no joke… but BYND has been dropping every day for the past 2 months