When the euphoria dies, it will go back to being sub $1. Nothing changed about their business, they cant make money, sales have been falling for 3 straight years, and their product still tastes like ass. Bankruptcy concerns caused them to swap debt for equity resulting in the creation of an additional 316M shares.
You had debt holders looking at a significant loss if BYND went under, and all of the sudden they were given an escape path to breakeven or even profit once the price eclipsed $3. I would love to know how many of those debt holders still even have those shares. My guess most took advantage of their get out of jail free cards, and those 316M newly minted shares are now in the hands of retail investors who will get proper fucked. A share count that is 400% higher and business fundamentals that are still complete shit isnt a recipe for long term price appreciation. The idea of a sustainable short squeeze seems like fiction to me. There might still be the possibility of a gamma squeeze due to the explosion of OI in options, but even that seems sketchy to me.