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

Meme stocks are back. Jolted by a sudden surge in Opendoor stock last week, a handful of other shares have ripped higher on interest from retail traders.

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.

Meme stocks are back in 2025, fueled by Reddit, AI, and retail hype. This deep dive explains why it’s happening again, what’s different, and why the rallies never last.

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.

As a result, Krispy Kreme's short interest had increased to 14.2% of shares outstanding, but a higher 26.4% of its publicly traded float, as of June 30. That's a high-enough short interest, especially in a lower-float stock, to cause a big move on a surge of unexpected buying. And it appears meme stock traders happened to target Krispy Kreme today.

Kohl's and Krispy Kreme have been subject of online chatter, including on WallStreetBets, about their potential. Rocket Companies is up 6%.