A new wave of meme stock mania has hit Wall Street, sending shares of Krispy Kreme and GoPro soaring. Over the past few days, both companies experienced sudden double-digit gains as retail investors on platforms like Reddit and X (formerly Twitter) rallied around them. The meme stock frenzy—once associated with names like GameStop and AMC—has found new momentum in nostalgic consumer brands. The term “meme stock” refers to shares that rise sharply due to viral hype rather than financial performance. With Krispy Kreme and GoPro back in the spotlight, investors and analysts are watching closely to see if history is repeating itself—or heading in a new direction.
Retail Traders Fuel Momentum
The latest surge began when online communities identified Krispy Kreme and GoPro as undervalued stocks with strong brand recognition. Memes, GIFs, and enthusiastic posts quickly followed, and within hours, both stocks were trending across multiple platforms. Retail traders, often operating through apps like Robinhood and Webull, bought up shares at a rapid pace. As trading volumes spiked, both stocks climbed over 30% in just two sessions, echoing the dramatic movements of meme stocks in 2021.
Krispy Kreme Glazed with Gains
Krispy Kreme, known for its iconic glazed doughnuts and hot-light signs, saw its stock price jump nearly 40% by midweek. Investors cited its strong brand nostalgia and recent partnerships with retailers like McDonald’s as reasons for renewed interest. Although the company’s fundamentals remain relatively stable, there’s been no major announcement to justify the sharp rise. The movement, driven largely by sentiment, mirrors the patterns seen in past meme stock booms.
GoPro Rides a Wave of Investor Hype
GoPro, the action camera maker once seen as a tech darling, also experienced an unexpected revival. Its stock surged more than 25% as online investors referenced its loyal user base and potential resurgence in outdoor and travel content. Despite GoPro’s long-standing struggles with market competition and shrinking revenues, traders latched onto its low price point and brand familiarity. Speculative optimism seemed to outweigh concerns over financial performance.
Volatility and Speculation Return to the Market
Market analysts have noted the return of extreme volatility in these stocks, with wide daily swings in both price and volume. This behavior raises concerns that the meme stock trend may again lead to significant losses for latecomers or inexperienced investors. Experts warn that such movements are rarely grounded in company fundamentals. Instead, they are fueled by social media hype, short squeezes, and fear of missing out (FOMO). While early participants may see gains, the pattern often ends in sharp corrections. The resurgence of meme stock trading underscores the lasting influence of retail investors and online communities in the modern market. It also highlights the risks of speculative investing, especially when driven by viral trends. For those watching from the sidelines, this moment serves as both a reminder and a warning. The hype surrounding Krispy Kreme and GoPro may be short-lived, but it reflects a broader shift in how—and why—stocks move today. As the dust settles, the financial community will be watching to see whether this new meme stock rally fades quickly or sparks another extended retail-driven surge.