When GameStop (GME) squeezed short-sellers during the pandemic stock market boom, the lesson failed bears today. Beyond Meat (BYND) shares rose by almost 80% after it posted results. The company posted revenue falling by 7.8% to $73.7 million. Despite poor net revenue per pound from a change in Beyond Meat’s product mix, the quarterly results created a short-squeeze event this morning.
Bears are learning a painful lesson about staying short when the stock is already trading at its lows.
First Solar (FSLR) will rise after posting a Q4 GAAP EPS of $3.25 on revenue of $1.16 billion, up by 16% Y/Y. The firm guided net sales of $4.4 billion to $4.6 billion and up to $14 in EPS for 2024. Expect 2025 earnings to rise even more as its competitors struggle.
Array (ARRY), another solar energy firm, posted revenue falling by 15.0% Y/Y. Array’s weak results are similar to that of Enphase (ENPH), which is in a modest path of business recovery. Conversely, SolarEdge (SEDG) has severe headwinds. Investors should avoid SEDG stock.
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