(Bloomberg) -- After its third straight day of gains on Wednesday, Beyond Meat Inc. is trading at more than triple its $25 initial public offering price. But despite the traction -- the latest fuel coming from select Tim Hortons stores testing breakfast options with the Beyond Meat Breakfast Sausage patty -- short sellers now account for more than 35 percent of the faux-meat producer’s free float, according to IHS Markit data. The stock’s post-IPO run-up saw Freedom Finance JSC’s Erlan Abdikarimov -- one of only two analysts covering the company -- revise his recommendation to hold from buy.
To contact the reporters on this story: Nancy Moran in New York at firstname.lastname@example.org;Tatiana Darie in New York at email@example.com
To contact the editors responsible for this story: Sophie Caronello at firstname.lastname@example.org;Catherine Larkin at email@example.com
©2019 Bloomberg L.P.