"Krispy Kreme rose 9% on Wednesday, adding to its 26.7% gain a day earlier. The company has seen several years of falling profits and revenue."
"GoPro jumped 35% on Wednesday to follow its 41% gain on Tuesday. The company last posted an annual profit in 2022 and revenue has been sliding for several years."
"Beyond Meat gained 9% on Wednesday. The recent surge follows significant struggles with profitability."
"Wall Street defines a meme stock as a stock that gains significant popularity and trading volume, primarily driven by social media hype and online communities."
Meme stocks like Krispy Kreme, GoPro, and Beyond Meat have surged in trading despite ongoing struggles with profitability. Krispy Kreme gained 9% after a 26.7% increase a day prior, even as it faces expected losses for 2025. GoPro rose 35% following a 41% gain the previous day, with forecasts showing continued challenges. Beyond Meat also saw a 9% increase amidst ongoing profitability struggles. Meme stocks are characterized by their trading popularity driven largely by social media hype rather than fundamental performance.
Read at Fortune
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