Shares of Beyond Meat (BYND) plummeted 6.08% in intraday trading on Wednesday, as the plant-based meat company's recent meme stock rally showed signs of losing momentum. The decline comes after an extraordinary surge that saw the stock price skyrocket over 1,200% in just four trading sessions.

The recent rally was fueled by a combination of factors, including Beyond Meat's announcement of expanded distribution in Walmart stores and its inclusion in the Roundhill Meme Stock ETF. These catalysts, coupled with the stock's high short interest of over 80%, triggered a massive short squeeze that sent shares soaring to levels not seen in months.

However, market analysts have been cautioning that the rally was largely speculative and disconnected from the company's fundamental business outlook. Joseph Saluzzi of Themis Trading noted that Beyond Meat exhibited all the typical characteristics of a meme stock, including "elevated short interest, a weak fundamental business, and a healthy dose of drama."

As the initial excitement wanes and profit-taking sets in, investors appear to be reassessing the sustainability of the recent gains. The sharp pullback today suggests that some market participants are cashing out their profits or reassessing their positions in light of the stock's volatile price action.

While Beyond Meat's expanded partnership with Walmart is a positive development for the company, it remains to be seen whether this will be enough to justify the stock's recent valuation surge in the long term. As the dust settles on this meme stock frenzy, investors will likely turn their attention back to Beyond Meat's underlying business performance and growth prospects in the competitive plant-based food market.