A new wave of retail investor enthusiasm has reignited the meme stock trend, sending shares of several heavily shorted companies sharply higher. On July 23, Krispy Kreme rose over 16% in premarket trading, extending its strong rally from the previous day. GoPro also saw a massive jump, gaining nearly 47%, as traders focused on short squeeze opportunities.
This resurgence mirrors earlier meme stock movements, where investors primarily from online communities coordinated to drive up prices of undervalued or heavily shorted names. These sudden spikes force short sellers to buy back stock, adding to the momentum.
Plant-based food maker Beyond Meat was another major gainer, climbing over 10%. The company has consistently been one of the most shorted names on the market, which made it a prime target for traders looking to trigger another squeeze.
Investor excitement appears to have carried over from earlier in the week, when department store Kohl’s surged more than 35% in a single day. That rally sparked broader interest in shorted stocks, leading to increased activity in names like 1-800-Flowers and other lesser-known consumer brands.
The trend highlights the continued influence of retail traders in today’s digital markets, where viral discussions on social platforms can significantly move stock prices, even without major company announcements.
Key Highlights:
- Krispy Kreme gained 16% premarket after a strong rally the day before.
- GoPro jumped nearly 47%, attracting short squeeze interest.
- Beyond Meat rose 10% as retail traders targeted its high short interest.
- Kohl’s earlier rally helped fuel broader meme stock momentum.
- Stocks with high short interest are seeing renewed attention from day traders.
