It wasn't just the SEC doling out subpoenas: the company and its founder Trevor Milton also received grand jury subpoenas from the U.S. Attorney's Office for the Southern District of New York on September 19, 2020.
Shares had tanked earlier in the morning by more than 20% when the market thought McDonald's was developing the meatless burger without a partner. Beyond shares spiked during the afternoon after it was revealed they helped McDonald's create the "McPlant".
“The hedge fund industry looks forward to working with the Biden administration on public policies that promote fair, efficient, and transparent capital markets.”