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An Ariane 5 rocket carrying two telecommunications satellites, Eutelsat Konnect and GSAT-30 (Jody Amiet/Getty Images)
La Meme chose

French satellite company Eutelsat is getting the “GameStop” treatment amid European concerns over Elon Musk’s Starlink

At its peak, Eutelsat was up over 500% this month.

Luke Kawa

Call it JeuArrêt.

French-based satellite company Eutelsat is on a tear reminiscent of the short squeezes seen in GameStop in 2021 and 2024.

The firm had a market cap well shy of $1 billion heading into March. It’s since spiked to north of $4 billion at its peak last week, and is on the verge of eclipsing that milestone after another big gain today.

To be a good meme stock, you need a story that stirs the passions. GameStop, for instance, gave retail traders the opportunity to breathe new financial life into a company that was the source of many nostalgic childhood memories.

In Eutelsat, you’re not only doing battle against the hedge funds that were short the stock en masse; you’re also making a stand against world’s richest man Elon Musk and the US government amid worries that Ukraine might lose access to Starlink. Eutelsat has been floated as a possible replacement in ensuring military communications stay online for the war-torn nation. After Poland’s foreign minister suggested that SpaceX may prove to be “an unreliable provider,” Elon Musk responded, “Be quiet, small man,” on X, adding that he wouldn’t turn off Ukraine’s Starlink terminals.

“Eutelsat” is also starting to get a bit of traction on the r/wallstreetbets subreddit.

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As they say, the more things change, the more they stay the same. But the French translation really adds some punch to this meme stock rally: “Plus ça change, plus c’est la même chose.”

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Luke Kawa

Opendoor surges on bullish options bets as traders look to potential real estate tokenization

Opendoor Technologies is surging on Friday amid bullish options bets and social media posts referencing unconfirmed rumors about the company.

The stock moved higher in the premarket session after the soft inflation report boosted stocks and briefly pushed long-term bond yields lower (positive for a real estate company). But the real gains came after the opening bell rang and options demand picked up.

As of 12:11 p.m. ET, roughly 664,000 call options have changed hands versus a 10-day average of about 364,000 for a full session.

What seems to be galvanizing members of the “$OPEN Army” is the potential for the company to pursue the tokenization of real-world assets, with Robinhood often bandied about as a potential partner in this endeavor.

(Robinhood Markets Inc. is the parent company of Sherwood Media, an independently operated media company subject to certain legal and regulatory restrictions.)

Opendoor bulls have often pointed to signs that Robinhood CEO Vlad Tenev appears to be fond of the company, from what appeared on-screen during a demo of a social trading feature at HOOD’s conference in Las Vegas in September to offering support to Opendoor CEO Kaz Nejatian in setting up an opportunity for retail shareholders to ask questions during the online real estate company’s next earnings call.

Opendoor is currently in a quiet period ahead of earnings, which restricts what type of announcements a company can make.

The call options seeing the most demand expire this Friday with strike prices of $8, $8.50, and $9.

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Luke Kawa

Beyond Meat gains amid slightly better-than-expected Q3 sales, positive commentary on legal issues

Shares of Beyond Meat built on their premarket gains after the plant-based meat seller reported preliminary Q3 sales a bit ahead of Wall Street’s expectations, before paring this advance after the market opened.

For the three months ended September 27, management said net revenue would be approximately $70 million. That’s in line with their guidance range of $68 million to $73 million, but Wall Street was expecting sales to skew toward the lower end of that range, at $68.7 million.

However, its anticipated gross margin of 10% to 11% is lower than analysts had been expecting (13.8%). That’s still the case even adjusting for expenses related to its downsizing of operations in China, which would have left margins around 12% to 13%, per Beyond.

Perhaps more importantly, the company provided positive commentary regarding arbitration discussions with a former co-manufacturer that appear to bring it closer to a resolution while limiting potential damages:

“As previously disclosed, in March 2024, a former co-manufacturer brought an action against the Company in a confidential arbitration proceeding claiming that the Company inappropriately terminated its agreement with the co-manufacturer and claimed damages of at least $73.0 million. On September 15, 2025, the arbitrator issued an interim award (the ‘Interim Award’) and found that the Company had a valid basis to terminate the agreement with the Manufacturer. The details of the Interim Award are confidential, and a final arbitration award has not been issued. Additional proceedings will be held to determine the award of attorneys’ fees, prejudgment interest and costs, if any, before a final arbitration award will be issued. On September 25, 2025, the Manufacturer filed a request with the arbitrator to re-open the arbitration hearing. On September 29, 2025, the Company opposed this request. On October 20, 2025, the arbitrator denied the Manufacturer’s request.”

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