Shares in Beyond Meat, the producer of processed plant-based alternatives to meat products, have become the target for short sellers according to the Financial Times.
Short selling is when speculators gamble that the value of the share they are targeting will be lower at a point in the future than it is at present.
Beyond Meat’s share price fell in the second half of 2021 from a high point of $130 (€115) per share on 10 August to $58.49 (€51.76) in the first week of January before recovering to $64.18 (€56.80) this week.
The fall in the second half of the year was driven by lower than forecast sales in the second half of 2021.
The US market was flat for meat substitute products in 2021 and the company also blamed distribution difficulties.
Beyond Meat produce the McPlant burger on sale in McDonald’s across the island of Ireland, backed by a heavy promotion campaign.