Krispy Kreme Stock Spikes
Digest more
Krispy Kreme (DNUT), Opendoor (OPEN), Rocket Mortgage (RKT) and Kohl’s (KSS) had become the meme stocks of the moment, along with a new moniker from traders — “DORK,” a reference to the first letters of their tickers.
As a result, Krispy Kreme's short interest had increased to 14.2% of shares outstanding, but a higher 26.4% of its publicly traded float, as of June 30. That's a high-enough short interest, especially in a lower-float stock, to cause a big move on a surge of unexpected buying. And it appears meme stock traders happened to target Krispy Kreme today.
An American Eagle ad campaign featuring Sydney Sweeney caught the attention of retail traders on Thursday, causing the stock to spike.
Krispy Kreme (DNUT) shares extend recent gains after catching retail investors' attention amid an ongoing meme stock rally. Texas Instruments (TXN) stock plunges on the company's disappointing outlook.
Krispy Kreme appears to have been chosen as one of the next meme stocks. It's clear that meme stock investors have added Krispy Kreme to their list. While meme stocks never went away, interest has clearly been rejuvenated as the stock market has significantly rebounded from lows in April.
Explore more
Kohl's and Krispy Kreme have been subject of online chatter, including on WallStreetBets, about their potential. Rocket Companies is up 6%.