Latest Update — July 2025

Meme stocks are once again dominating headlines in Q3 2025. Retail favourites like Krispy Kreme (DNUT), GoPro (GPRO), and Opendoor (OPEN) have surged over the past weeks, echoing the explosive rallies seen during the original meme stock wave of 2021.

This resurgence comes amid renewed social media buzz on platforms like Reddit, X, and Discord, as well as a pickup in short interest and seasonal patterns benefiting small-cap stocks.

What is a meme stock?

At its core, a meme stock refers to a publicly traded company whose stock price experiences rapid and extreme fluctuations, often driven by online communities, rather than traditional financial metrics. These stocks typically gain momentum through viral internet memes, catchy slogans, and grassroots online movements — not based on company fundamentals.

The rise of meme stocks is closely tied to the democratisation of information and the power of social media to amplify individual voices.

Platforms like Reddit, X (formerly Twitter), and Facebook bring awareness to these companies as online communities speculate on future price movements. This often leads to cult-like loyalty from retail investors and sudden spikes in trading volume and price.

Even if the analysis on these forums isn’t always sound, the sheer volume of participants can influence markets in unexpected and powerful ways.

GameStop and AMC: Still Meme Icons, but Less Explosive

GameStop (GME) remains one of the most recognisable names in meme stock history. In May 2024, the unexpected return of Roaring Kitty on X reignited retail interest, pushing GME shares up by approximately +110% over the month, with some intraday moves exceeding +70%.

However, unlike the viral mania of 2021, the 2024 rally was shorter-lived and more contained:

As of mid-2025, GME is trading between $22 and $25—well above pre-2021 levels, but far from its speculative highs.

Short interest has declined, and attention from retail traders has shifted toward newer, more volatile names with stronger momentum narratives.

AMC followed a similar pattern. The stock saw a strong rebound in Q2 2025, supported by a modest recovery in box office revenue and signs of debt restructuring. However, it has since stabilised, with trading volumes and volatility decreasing noticeably in recent weeks.

In short: GameStop and AMC are still symbols of meme stock culture, but the market’s energy has shifted. Today, names like Krispy Kreme (DNUT) and GoPro (GPRO) are capturing the attention once reserved for GME and AMC.

Which Meme Stocks Are Gaining Attention in 2025?

Although GameStop and AMC still attract headlines, a new wave of meme stocks is taking over in 2025. These are companies with high short interest, strong social media momentum, and often little connection to their fundamental performance.

Krispy Kreme (DNUT)

In July 2025, Krispy Kreme saw its share price rise more than 35% in just a few sessions. Despite limited news, the stock became a top mention on Reddit and X, gaining traction due to its short float and nostalgic appeal.

Chart 1: Krispy Kreme (DNUT) – July 2025 price action

Source: xStation 
Please be aware that information and research based on historical data or performance does not guarantee future performance or results. Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk.

GOPRO
GoPro also experienced a sharp rally in mid-July, with the stock jumping from around $0.70 to over $2.10 within a few days — a gain of more than +200% at its peak.
The move was largely driven by increased online chatter around a possible short squeeze, along with a spike in trading volume across retail platforms. 
Despite the lack of major corporate news, GoPro quickly became a trending topic across Reddit and X. 
The rally was followed by a sharp pullback, highlighting the typical volatility associated with meme-driven momentum.

Chart2: GoPro (GPRO) – July 2025 price surge and reversal

Source: xStation 
Please be aware that information and research based on historical data or performance does not guarantee future performance or results. Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk.

Opendoor

Opendoor experienced one of the most dramatic meme-driven rallies in July 2025, climbing from just above $0.40 to a peak of $4.50 in less than two weeks — a gain of over +900% at the intraday high.
The stock became a focal point in retail trading forums and social media groups, with traders pointing to its high short interest and low float as key drivers. Despite no significant company news, the momentum pushed the stock into the spotlight. After peaking, Opendoor pulled back sharply but remains well above its early July levels.

CHART 3: Opendoor (OPEN) – July 2025 parabolic breakout and pullback

Source: xStation 
Please be aware that information and research based on historical data or performance does not guarantee future performance or results. Past performance is not necessarily indicative of future results, and any person acting on this information does so entirely at their own risk.

“Diamond Hands” or “To the Moon”? The Mindset Behind Meme Stocks

Central to the meme stock phenomenon is the mindset behind phrases like “diamond hands” and “to the moon” — both of which continue to shape retail trading behaviour in 2025.

Diamond hands refers to the unwavering resolve of investors who hold onto their shares regardless of market volatility or pressure to sell.

To the moon captures the collective belief among meme stock enthusiasts that the price will skyrocket, defying logic and traditional valuation models.

These slogans, once popularised during the 2021 GameStop rally, have become a permanent part of online trading culture. And they still hold power today.

In July 2025, similar sentiment fueled rallies in Krispy Kreme, GoPro, and Opendoor — with online communities urging others to “HODL” and push stocks “to the moon”, regardless of financial fundamentals.

While the platforms may have evolved — with activity now spread across Reddit, Discord, X, and Telegram — the core psychology of meme trading remains the same: collective conviction over fundamentals, driven by humour, defiance, and community momentum.

Risk Management

However, it's important to recognise the risks associated with meme stocks. While some investors have reaped substantial profits from investing in these companies at the right time, many others have suffered significant losses. The speculative nature of meme stocks means that they are susceptible to market manipulation, pump-and-dump schemes, and regulatory scrutiny.

Furthermore, the euphoria surrounding meme stocks can quickly dissipate, leading to sharp declines in stock prices as quickly as they rose.

Despite these risks, meme stocks have undoubtedly left an indelible mark on the investment landscape, challenging traditional notions of market efficiency and investor behaviour. They have democratised investing in many ways, empowering retail investors to challenge institutional dominance and participate in market movements on their own terms.

However, they have also underscored the need for investors to exercise caution, conduct thorough research, and understand the risks involved before diving into the world of meme stocks.

✅ Practical Tips:

• Set stop-losses and define your risk exposure before entering a trade.
• Avoid investing based solely on memes or hype — always do your own research.
• Be wary of FOMO (fear of missing out) in fast-moving chat rooms or social feeds.

Final thoughts

In conclusion, meme stocks represent a unique intersection of finance, technology, and online culture. They continue to capture the attention of investors and market observers alike, challenging traditional views of how markets behave and who can influence them.

While meme stocks have shown that collective sentiment and social media can move markets, they have also highlighted the importance of approaching such trends with caution.

Whether driven by humour, rebellion, or curiosity, the meme stock phenomenon remains an evolving part of the financial landscape in 2025. For some investors, it may offer learning opportunities about market psychology and volatility. For others, it serves as a reminder of the risks involved in following market trends based on online hype.

Please note: Meme stocks typically exhibit high volatility and may not be suitable for investors with a low risk appetite or a long-term investment strategy.