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Meme Stock Frenzy Propels Beyond Meat and Krispy Kreme Amid Volatility
Meme Stock Frenzy Propels Beyond Meat and Krispy Kreme Amid Volatility
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BTCCSquare news:
Beyond Meat shares surged over 1,400% from last week's low of $0.52 to $7.69 before retreating, marking its highest level since August 2023. The stock settled at $3.90 by afternoon, demonstrating the extreme volatility characteristic of meme-driven rallies.
Krispy Kreme mirrored the momentum, rebounding 65% from June's $2.50 low despite remaining 75% down year-to-date. Both companies were recently flagged by JPMorgan as short candidates, with analysts citing eroding market share in declining categories.
The moves recall 2021's meme stock mania, where fundamentals gave way to social media-driven speculation. Retail traders appear to be reviving the playbook, targeting heavily shorted names with high visibility.
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