Dimitri Semenikhin, the retail trader who sparked the rally in the Beyond Meat Inc. (NASDAQ:BYND) stock, downplayed comparisons with “Roaring Kitty.”
Beyond Meat Rally’s Dynamics Are Different, Says Dimitri Semenikhin
The rally, which began with Semenikhin’s analysis of a convertible note exchange by Beyond Meat, has drawn comparisons to the GameStop surge led by Roaring Kitty.
Since Seminikhin’s analysis, Beyond Meat shares have soared by around 1,300%. Known as Capybara Stocks on social media, he presented a compelling case for the stock’s undervaluation, capturing the attention of retail traders.
However, the business school dropout resisted the comparison of Beyond Meat stock’s surge with that of GameStop Corp. (NYSE:GME), stating in a Business Insider interview that the dynamics of the two events are different.
However, he underscored that there is a difference in BYND stock’s rally and GME stock’s surge, explaining that while the former happened quickly, the latter took months.
Seminikhin described the experience as surreal, noting the unexpected attention his investment thesis has garnered. “I never expected the amount of attention and following and interest that this investment would drive,” he said.
Seminikhin’s Background
Semenikhin’s background includes a degree in mathematics from King’s College London and a stint in a joint graduate program between the London Business School and the University of Cambridge.
Despite not completing the program, he launched a luxury travel startup, Yacht Harbour, in 2014. Currently, he serves as CEO of Stroyteks Group, a real estate development firm.
“A lot of my time was spent in startups, and after that, real estate. It forces you to look at investment deals from both sides, as an investor and as an operator,” said Seminikhin, explaining what made him interested in investing.
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‘Options Casino’
As Beyond Meat’s stock surged, retail traders flocked to Semenikhin’s social media for updates. He has shared several videos explaining his thesis and adjusting price targets.
Despite the BYND stock’s recent decline, Semenikhin remains optimistic, holding onto his stake for the long term, though he expressed concerns about the rally turning into an “options casino.”
Déjà Vu
The recent surge in Beyond Meat stock is reminiscent of past meme-stock phenomena. The stock, which had been trading as low as 50 cents, soared to $7.69 before retracting to below $3.
This volatility has been fueled by retail traders and meme-stock enthusiasts who see it as a “comeback play.” The stock’s inclusion in the Roundhill Meme Stock ETF (NYSE:MEME) and a new distribution partnership with Walmart Inc. (NYSE:WMT) have added to the momentum.
Additionally, the BYND stock’s short interest has skyrocketed to 62.5% of the float, setting the stage for a potential short squeeze. With nearly 39.5 million shares sold short, any sharp upward movement could force short sellers to cover, further amplifying the rally.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock
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