Krispy Kreme Stock Spikes
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A meme stock's viral popularity tends to spawn unexpected trading volumes and abrupt share price spikes and plunges, often in the same day, particularly when it conflicts with the company's
Meme stocks are typically those that see significant jumps in trading volumes and stock prices, driven by a mix of social media hype, short squeezes, and technical breakouts, despite little to no change in the underlying business fundamentals.
Meme stocks are back. Jolted by a sudden surge in Opendoor stock last week, a handful of other shares have ripped higher on interest from retail traders.
Krispy Kreme (DNUT), Opendoor (OPEN), Rocket Mortgage (RKT) and Kohl’s (KSS) had become the meme stocks of the moment, along with a new moniker from traders — “DORK,” a reference to the first letters of their tickers.
The meme stock rally is back and gathering steam with shares of two struggling companies – Krispy Kreme (DNUT) and action camera company GoPro (GPRO) – joining the fray. What’s led to the resurgence of meme stocks and is it a repeat of the 2021 frenzy?