I’ve bought 1% of Beyond Meat. Again. This is why.

The $BYND thesis in a snapshot today. Market price \~$12 per share. Cash per share: \~$10.50 Enterprise value \~$30-35 million Remaining debt offset by owned industrial real estate (warehouses, equipment, etc) and convertible to equity at $30+ per share. Business has halved its burn rate over the past 6 months whilst launching a new drinks business, securing distribution and validating the thesis around its brand value and horizontal growth. Costs to borrow for the stock have exploded to 45%+ APY with bears needing 7 days+ to buyback their shorts. Importantly - no new shares of $BYND can be issued since it is no longer eligible for ATM sales.