Reversal
Beyond Meat’s retail-fuelled rally and sharp correction set the tone for markets last week. But outside the meme-stock spotlight, quieter pullbacks spoke volumes – and came as no surprise.
So, what makes a stock ripe for meme status? Short interest. The bigger the bet against the company, the juicier the setup for retail investors trying to squeeze short sellers. Last week, Beyond Meat ($BYND) became the target – with around 81% of its free float shorted before it soared 1,000%.
But much like its plant-based products, the rally had no real meat. $BYND quickly erased its gains, dropping to US$2.01 after-hours on Friday. And it wasn’t the only asset to reverse course.
Gold dropped more than 6% last Tuesday – its steepest single-day drop in 12 years. The SPDR Gold Trust ($GLD) saw US$844M in outflows as traders bolted. That came after the precious metal hit 45 new highs in 2025 and cracked the US$4,000 mark. It’s a correction that many analysts saw coming. As MKS Pamp SA’s head of research put it, it had become ‘an overcrowded trade that’s overextended by every technical metric’.
Silver didn’t escape either. After rallying on a supply crunch, it’s now down 17%, with the abrdn Physical Silver Shares ETF ($SIVR) down 11.2% last week. Analysts at Goldman Sachs and Citi had warned of this – calling out cooling price momentum and plateauing ETF inflows.
Pullbacks are nothing new for Tesla ($TSLA) investors, who were dealt a mixed Q3 earnings report. Record revenue met underwhelming EPS, and guidance on future earnings remained vague. $TSLA dipped 3.4% as shrinking margins took focus.
Here’s the thing about reversals: they’re often less about the future, more about the now. They mark moments where the market hits pause – shedding excess optimism and testing conviction.
And in today’s retail-driven landscape, those moments matter more than ever.
This is not financial advice nor a recommendation to invest in the securities listed. The information presented is intended to be of a factual nature only. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking financial, legal and taxation advice before investing.
