Shares in doughnut chain Krispy Kreme and camera maker GoPro leapt on Wednesday, as retail traders piled into previously unloved stocks in the latest flare-up of the meme stock frenzy. GoPro climbed nearly 50 per cent in early trading while Krispy Kreme was 12 per cent higher.

As the stock market pushes into record territory and some companies trade at lofty levels, investors are once again looking for bargains among some of Wall Street's beaten down companies. The latest so-called meme stocks include doughnut maker Krispy Kreme,