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- Beyond Meat stock jumped as much as 16% on Thursday after getting a boost from Jim Cramer.
- The "Mad Money" host said Beyond Meat could be the next Reddit favorite due to its high short interest rate.
- Despite Cramer's comments, Beyond Meat doesn't appear to be one of Reddit's top stocks, for now.
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Shares of Beyond Meat jumped as much as 16% on Thursday after Jim Cramer said the stock could be a new target for Reddit day traders on CNBC's "Mad Money."
Cramer noted Beyond Meat's high short interest rate could draw in the Reddit crowd as it did in the past with AMC, GameStop, and others. 27% of outstanding Beyond Meat shares are currently sold short, according to data from S3 Partners.
Cramer took to Twitter to continue his Beyond Meat discussion after the recent "Mad Money" segment.
"My friends and colleagues at Wall Street Bets are seeing the value of Beyond Meat. I can't tell if it is that large short position that attracts them or Ethan Brown, the CEO. But I think the respect that I am getting is much appreciated and I salute you," he wrote.
Despite the news from Cramer, the top comments on Reddit's r/wallstreetbets forum aren't related to Beyond Meat.
Data from HypeEquity also shows only a small uptick in comments about Beyond Meat with 5 more buy-related and 4 more sell-related comments than average.
The list of top stocks mentioned on Reddit per tracking by Bank of America also doesn't include Beyond Meat.
Instead, BofA says the top stocks based on social media mentions include, AMC, GameStop, Virgin Galactic, Athene Holding, Plug Power, Antero Midstream, Academy Sports and Outdoors, Clean Energy Fuels, and Silvergate Capital, per Seeking Alpha.
There have been several comments about Beyond Meat on Reddit (1, 2, 3, 4, 5), but unlike posts about AMC or Gamestop, they have few, if any, upvotes. And according to data from HypeEquity, "Cramer" was one of the most mentioned words in posts about the vegan meat stock.
In other Beyond Meat news, the company launched its first-ever value 6-pack of Beyond Burgers in Canada this week. The vegan burgers are set to be available at major grocery stores in the frozen section soon.
The company also continues to expand its partnership with KFC and other brands in China, to mostly favorable reviews.
Beyond Meat shares traded up 11.59% as of 11:24 a.m. ET on Thursday.
