GoPro, Krispy Kreme join the meme party as Wall Street speculation ramps up

It's a caller day, and meme traders person recovered much stocks to enactment connected the pedestal.

Reddit-obsessed retail traders targeted wearable camera steadfast GoPro and doughnut shaper Krispy Kreme connected Wednesday, triggering chaotic terms swings successful the names. GoPro surged arsenic overmuch arsenic 73% during the league earlier ending the time up 12.4%. Krispy Kreme popped 39% astatine its league precocious and closed the time gaining conscionable 4.6%.

The cohort seemed to person already ditched their aged emotion OpenDoor, whose shares fell different 20% pursuing a wild speculative run. Kohl's, which besides had a brainsick fewer sessions, dropped 14.2% Wednesday.

GoPro shares one-day chart

Much similar OpenDoor, GoPro is besides a beaten-down penny stock, trading consistently beneath $1 this year. Krispy Kreme is different inexpensive stock, selling astir $4 apiece. The doughnut concatenation has 28% of its interval shares sold short, portion GoPro has astir 10%, according to FactSet.

The 2 stocks were heavy cited connected WallStreetBets, the online forum down the infamous GameStop mania successful 2021.

"YOLO DNUT," 1 station connected WallStreetBets reads. YOLO stands for "you lone unrecorded once" and is utilized to picture a high-risk, all-in trading strategy.

Krispy Kreme banal one-day chart

The heightened speculative enactment connected Wall Street coincided with a record-setting rally successful the broader marketplace arsenic investors breathed a suspiration of alleviation amid better-than-feared tariff headlines. The S&P 500 closed astatine different grounds precocious Tuesday, bringing its 2025 gains to much than 7%.

"We property the archetypal signifier of the junk rally to removal of downside risks to U.S. GDP with transition of the OBBB bill, hopes for respective Fed complaint cuts betwixt present and Y/E, stronger than expected U.S. economical data, and tariff quality travel being not arsenic atrocious arsenic feared," Wolfe Research said successful a enactment to clients.