A one-time penny stock beyond the meat rose in addition to the Meem ETF, jumping 80% on Tuesday.

Beyond the flesh It has regained a bit of its meme mojo status, rising 83% on Tuesday.

The food company known for its plant-based meat alternatives has had an incredible week, with shares rising more than 127% on Monday, with Roundhill Investments, which develops thematic ETFs, adding to its name. Roundhill Meme Stock ETF (MEME).

The rally continued on Tuesday after Beyond Meat announced a deal with Walmart to expand distribution to more stores in the US.

It appears that the addition of the ETF has caused a bit of a shock to investors speculating on the stock by forcing investors to cover their positions. More than 63% of the shares available for trading were sold short per factset.

It’s a remarkable turnaround for the stock, which has since plunged more than 67% in the past week announced The loan agreement has been finalized. The stock is currently trading around $2 a share after ending last week at just 65 cents.

Indeed, the stock has been under pressure for several years, losing returns in each of the past five years. After rising to $230 per share after its IPO in 2019, it has become a penny stock.

Yet this week’s rally rebounded when Beyond Meat enjoyed meme stock status among retail traders, who flocked to the stock based more on sentiment than corporate fundamentals after coordinating on online message boards.

In 2021, Bank of America asked Beyond Meat to look at Reddit stock. It fell by more than 47% in the same year.

Beyond Meat’s return could also be the latest sign of a frothy market, as investors pile into more speculative names despite higher valuations and possibly signal a market top.

Roundhill actually closed its meme ETF at one point due to lack of interest, but It revived Retail traders are returning to this relentless bull market earlier this month.