Shares of Beyond Meat (BYND) plummeted 16.48% in after-hours trading on Wednesday, signaling a potential end to the plant-based meat company's recent meme stock frenzy. The sharp decline comes after an extraordinary surge that saw the stock price skyrocket over 1,200% in just four trading sessions.

The dramatic reversal follows a day of extreme volatility for Beyond Meat, with trading halted multiple times due to rapid price swings. The stock's meteoric rise was fueled by a combination of factors, including its inclusion in the Roundhill Meme Stock ETF, an expanded distribution deal with Walmart, and a massive short squeeze that forced bearish investors to cover their positions.

However, market analysts have been cautioning that the rally was largely speculative and disconnected from the company's fundamental business outlook. Beyond Meat has struggled with weak sales and ongoing losses in recent years, raising concerns about its long-term viability in the competitive plant-based food market.

The after-hours plunge suggests that the initial excitement is waning and profit-taking is setting in. Investors appear to be reassessing the sustainability of the recent gains, especially given the company's challenged financial position. As the dust settles on this meme stock frenzy, market participants will likely refocus on Beyond Meat's underlying business performance and growth prospects.