The stock has been "pretty much sideways" since then, MKM Partners chief market technician JC O'Hara said Wednesday on CNBC's "Trading Nation."
A Pause In Beyond Meat's Volatility
Beyond Meat's stock has traded in a relatively narrow range for the past few weeks, but investors can expect some volatility to return after its earnings report in early February, O'Hara said.
Taking a look back at Beyond Meat's three earnings reports, the stock has seen absolute moves of 40%, 12% and 22%.
"I don't expect this tranquil sideways price action to last too much longer," he said.
A Long-Term Beyond Meat Play
Beyond Meat's stock is "incredibly volatile," but investors may want to ignore near-term moves in favor of the long-term picture, Simpler Trading's director of options Danielle Shay also said "Trading Nation."
Beyond Meat deserves credit for not only carving out a dominant position in a niche market, but appealing to non-vegans and non-vegetarians, she said.
"No one has been able to create a burger like this that's good and that appeals to meat eaters," Shay said. "Meat eaters like it because it tastes good, it's healthier, you can have a smaller ecological footprint."
Nevertheless, options traders have an opportunity to take advantage of potential short squeezes in the near-term, she said.
Beyond Meat Price Action
The stock was trading 5.23% higher at $85.74 at the time of publication Thursday.
Photo courtesy of Beyond Meat.