Beyond has gained major traction after COVID-19 and China's opening as well as solidifying deals with large corporations like SBUX and others. With COVID-19 and the recent news of issues with supply chains regarding meat production we saw a major move to the upside last week. I believe we will see a large correction in the coming week, however I do believe the long-term outlook on BYND to be quite bullish. In the short-term, restaurant related companies are still struggling and this should have a major affect on the stock, a high-probability short is in play targeting the $80 area.
Trade closed manually
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Closed 5/22 PUTS for profit, long term target still $83. Will look to add new positions on strong pullbacks.