Yesterday, I talked about BYND on CNBC.
Today, it’s up over 10%.
Like I noted at that time, I like BYND for a long-term stock pick.
Why?
Because based on my market analysis, it has large growth potential in a largely untapped space.
Here’s why I think you should definitely keep an eye on it…
The Beyond Meat craze just gets crazier, with more and more stores and restaurants adding this product to their shelves and menus. But, keep in mind, it moves — a lot. I’m looking at it as something that’ll be amazing to see where it’s at 5-10 years down the line. Keep that in mind.
As for trading it in the options market…
Because it’s so volatile, it’s great to trade — if you so dare.
My favorite setup on this stock is the short squeeze. Because it has such high short interest, whenever it breaches a recent high, it typically experiences a quick move higher — making it a great candidate to trade with options, due to the leverage. Currently, it’s squeezing higher, and I’m going to see if I can trade it to $100.
After all, John’s been trading it all month, and I think with another push higher in the short term, we could possibly get a gap fill. Keep in mind though that these are momentum trades. So if it loses momentum before hitting my target, I’ll be out.
But as for today — so far, so good!
If you’re interested in the rest of my deeper analysis of BYND , I’ve included the full segment from CNBC below. As always, please let me know your thoughts on this…
