Beyond Meat shares closed lower Wednesday, erasing a triple-digit gain, as the meme stock rally faltered.

The food company known for its plant-based burgers and sausages fell 1.1% on Wednesday, after surging 112% at one point in the session. The stock reached a high of $7.69 during the session, after closing Tuesday at $3.62. It ended Wednesday's session at $3.58.

It's the latest in a volatile week for the company. On Monday, the stock rallied more than 127% after Roundhill Investments, which develops thematic ETFs, added the name to its Roundhill Meme Stock ETF (MEME) .

That decision appeared to have the added effect of driving a short squeeze in the stock, as investors rushed to cover their positions. According to FactSet data, more than 63% of the shares available for tradi

See Full Page