Urban Outfitters (URBN) shares fall in after-hours trading after missing fourth-quarter earnings estimates on the bottom line. Bumble (BMBL) stock moves lower after missing on fourth-quarter revenue and first-quarter outlook estimates. Beyond Meat (BYND) skyrockets after topping fourth-quarter revenue expectations. For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Luke Carberry Mogan.
About 37.6% of the company's free float, or shares worth $172.6 million, were shorted as of Monday, according to data and analytics firm Ortex. "We expect short sellers to add to the buy pressure, and therefore causing a short squeeze," Ortex co-founder Peter Hillerberg said, adding that bearish investors have lost $93 million on paper since Tuesday's close. Beyond Meat's market value has tumbled 60% over the past year, as consumer sentiment around plant-based meat took a beating due to higher prices amid sticky inflation.
Chief Executive Officer Ethan Brown said on a conference call that the company was working hard to move from a “growth at all costs operating model to one that is highly focused on sustainability and profitability.” The stock surged 56% to $11.56 in premarket trading. Wall Street analysts were more skeptical than traders, however.