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Beyond Meat has regained a bit of its meme mojo status, surging more than 146% on Tuesday in its best day ever.
The food company known for its plant-based meat alternatives is having an incredible week, with shares surging more than 127% Monday after Roundhill Investments, which develops thematic ETFs, added the name to its Roundhill Meme Stock ETF (MEME) .
It continued that rally on Tuesday, when Beyond Meat announced a deal with Walmart to expand distribution to more stores across the U.S.
It appears the ETF addition has unleashed a short squeeze with investors who bet against the stock forced to cover their position. More than 63% of the shares available for trading were sold short, per FactSet. Stoc