US EditionForget GME: Krispy Kreme (DNUT) Is the New Meme Stock
UNITED STATES, JUL 25 – Retail investors on social media have driven a surge in meme stocks like Krispy Kreme, with trading volumes reaching 71 times the average daily level, highlighting market momentum effects.
- Krispy Kreme's shares dropped sharply by nearly 30% this week following a wider-than-expected quarterly loss and a decision to halt its nationwide growth strategy.
- The decline followed disappointing earnings, shifting consumer habits, a cybersecurity breach last November, and lower sales from its McDonald's partnership.
- Despite recent difficulties, Krispy Kreme hit over 100,000 contracts traded Tuesday, drawing meme stock enthusiasm fueled by social media and investor sentiment.
- Mark Vitner noted meme stock status reflects intangible strengths like cultural relevance, while analysts caution that meme stocks carry volatility and risk akin to gambling.
- Ongoing regulatory scrutiny and market dynamics suggest meme stock volatility may continue, with Krispy Kreme facing financial pressures and legal challenges ahead.
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Record and Landmark
News & RecordKrispy Kreme enters meme stock zone with social media, financials competing for influence
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 financial reports.
New “meme stocks” have surged on the stock market. The Reddit forum behind Gamestophyster has struck again. “It’s like a casino game,” says Maria Landeborg, senior strategist at Danske Bank.
Forget GME: Krispy Kreme (DNUT) Is the New Meme Stock
Key Points The meme craze is back with new stocks this time. Krispy Kreme is a new meme stock, up 40% in five days. Are you ahead, or behind on retirement? SmartAsset’s free tool can match you with a financial advisor in minutes to help you answer that today. Each advisor has been carefully vetted, and must act in your best interests. Don’t waste another minute; get started by clicking here.(Sponsor) A meme stock is a stock that gains immense…
Krispy Kreme’s Suddenly Irresistible. What to Do When Clients Crave Meme Stocks
Are meme stocks really a thing again? The inexplicably popular trades that were the darlings of 2021 made headlines this week as self-proclaimed “degenerate” investors piled into unassuming stocks, like Krispy Kreme. The embattled doughnut and coffeehouse chain hit a record of over 100,000 contracts traded Tuesday, and if that sounds like a lot for a company with deliciously cheap treats, it is: it’s equivalent to 71 times its average daily volu…
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