Beyond Meat, Inc. (BYND) shares are soaring 5.94% in intraday trading on Wednesday, continuing a remarkable rally that has seen the plant-based meat alternative company's stock skyrocket over 1,200% in just four days. The latest surge comes as retail traders fuel a meme stock frenzy and the company expands its distribution in Walmart stores.

The stock's meteoric rise began after its inclusion in the Roundhill Meme Stock ETF (MEME) earlier this week, triggering a massive short squeeze. With short interest at about 81.8% of its free float, Beyond Meat has become a prime target for retail traders looking to capitalize on heavily shorted stocks. The company's expanded partnership with Walmart, which will see select products available in over 2,000 stores nationwide, has added momentum to the surge.

While the recent stock performance has provided a reprieve for the beleaguered company, investors should remain cautious. Beyond Meat recently completed a debt restructuring deal, swapping shares for outstanding convertible debt, which helped clean up its balance sheet but diluted existing shareholders. The company continues to face fundamental challenges, including declining revenue and ongoing profitability issues. As the meme stock euphoria continues, market observers are drawing comparisons to the GameStop and AMC rallies of 2021, highlighting the volatile nature of such movements.