Week That Meme Stocks Returned
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Krispy Kreme joins meme-stock madness
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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.
Shares in Krispy Kreme donuts, camera maker GoPro, and retailer Kohl's have risen dramatically this week, driven by online hype.
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
Amid this week's speculative frenzy in a handful of meme stocks, we asked AI what to look for when trying to pick the next candidate to go parabolic.
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?