Meme-stock mania is sweeping US stock markets once again. Read more at straitstimes.com. Read more at straitstimes.com.

Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest beaten down companies to see a share price revival are Krispy Kreme, GoPro and Beyond Meat.

A-list actress Sydney Sweeney appears to be driving hopes among the retail crowd that her fall campaign for the retailer boost its sagging shares.

Small investors piled into Kohl's Tuesday and sent shares flying upwards as the department store retailer became the latest business caught up in a stock market frenzy.

Few people would have picked Kohl’s stock as a candidate for a double. Thanks to a “gamma squeeze,” it became the latest meme-trade darling to gain more than 100% in a single day.

During the company's most recent quarterly call with investors and analysts, Kohl's reported a 4.1% sales decrease, continuing a streak of quarterly sales decreases that has started more than two years ago. The company is also expecting a net sales decrease between 5% and 7%.

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?