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Beyond Meat Shares Plunge, Making Short Sellers $170 Million

Video Credit: Wochit Business
Published on July 30, 2019 - Duration: 00:34s

Beyond Meat Shares Plunge, Making Short Sellers $170 Million

Short sellers made $170 million when Beyond Meat's stock slipped as much as 17% on Tuesday.

The companies shares fell after disappointing second-quarter earnings and the announcement of a second public offering.

According to Business Insider, the gains curbed short-sellers' total post-IPO losses to $803 million.

The dramatic losses point to the tough road short-sellers have faced since the IPO, saw shares rally more than 800% at their peak.

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Beyond Meat Shares Plunge, Making Short Sellers $170 Million

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