'When you see people crowding into stocks just because they're going up, it's what I call a bad sign,' Jim Cramer says.
last Thursday, saw its stock surge another 21% Monday. That's after the asset surged nearly 40% on Friday.
Cramer called the faux-meat maker a "fantastic company," but said the stock trajectory has been "terrifying." Beyond Meat added $3 billion to its market cap in just two days, thanks to a panic from short sellers — who place bets that a stock price will fall — desperate to trade the stock, and the "true believers" who are buying every share they can find, Cramer said. The stock's nearly $30 rise Monday was "all about the mechanics of the market," he said.
"In these situations, people don't care why something's going up, they just want to own a winner," he said. "When you see people crowding into stocks just because they're going up, it's what I call a bad sign."
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