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Wednesday, August 06, 2025
Meme stocks make a comeback amid broader market optimism
By Vijay Valecha in 'Century in News'
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Vijay Valecha, August 6, 2025, The National
The meme stock craze is back – again. In what’s becoming a familiar summer ritual, social media-fuelled traders have sent a basket of long-neglected US stocks into orbit.
Names such as Opendoor Technologies, Krispy Kreme, GoPro, Wendy’s and Kohl’s are hardly Wall Street darlings, but they’ve suddenly enjoyed dizzying short-term share price gains, seemingly out of nowhere.
Opendoor started July trading at around 56 cents per share, before jumping more than four-fold to $2.88 at its peak on July 22. It appeared to have run out of steam but then jumped 15 per cent to close at $2.10 on August 1, Friday.
On July 23, GoPro and Krispy Kreme posted pre-market gains of 70 per cent and 90 per cent, respectively. Despite retreating, GoPro still ended July up 58 per cent, Kohl’s ended the month almost 19 per cent higher. Krispy Kreme saw a more modest 9.9 per cent return.
It’s a chaotic, captivating sideshow – another zany episode of traders gone wild. But it may also be telling us something more profound about where the stock market is heading next. If we’re willing to listen.
Meme stocks first emerged in 2021, when retailers GameStop and AMC Entertainment became the flavour of the month on Reddit’s r/WallStreetBets and trading apps like Robinhood.
In 2023, another spell of summertime madness sent struggling homeware retailers Tupperware and Bed Bath & Beyond to the stars. In 2024, GameStop, AMC, Koss and Tupperware all returned in a short-lived reprise.
“Although the broader rally has legs, investors would do well to temper optimism with selectivity.”
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