Beyond Meat saw its stock surge for a third consecutive day as meme traders drove up the price. The plant-based food company’s shares rose 111% in premarket trading, reaching $6.43 per share. This rally follows Roundhill Investments adding Beyond Meat to its meme stock ETF, causing a short squeeze with over 63% of shares sold short.

Despite facing years of decline, Beyond Meat’s stock has made a strong comeback this week. After plummeting to just 65 cents last week due to a debt deal, the stock has soared over 146% after announcing an expansion at Walmart. This resurgence mirrors the high-risk trading seen during the pandemic, with retail traders coordinating moves on online forums like WallStreetBets.

The return of Beyond Meat’s stock may signal a frothy market, with concerns over inflated valuations and a possible AI bubble. Roundhill previously shut down its meme ETF due to lack of interest, but revived it as retail traders re-entered the bull market. Comments on Reddit show mixed reactions to the stock’s revival, reflecting the volatile nature of meme trading on WallStreetBets.

Read more at CNBC: Beyond Meat shares surge for a third day in a row as meme traders jump on board