GoPro and Krispy Kreme Stocks Soar Amid Meme Stock Frenzy on Wall Street

GoPro and Krispy Kreme stocks are gaining attention on Wall Street due to speculation and high-risk trading on the online forum WallStreetBets. The stocks are heavily shorted and have been trading below $1 and $4, respectively. The heightened speculation coincides with a broader market rally, with the S&P 500 closing at a record high and gains of over 7% in 2025.

Retail traders have turned their attention to GoPro and Krispy Kreme, pushing shares up significantly in premarket trading on Wednesday. The two stocks are heavily cited on WallStreetBets, the online forum that sparked the GameStop mania in 2021. GoPro shares surged 63%, while Krispy Kreme shares rose 33%, indicating strong speculative interest [1].

GoPro, a beaten-down penny stock, has been trading consistently below $1 this year. Similarly, Krispy Kreme, selling around $4 apiece, has seen its shares rise significantly due to high short interest and retail-driven buying. The heightened speculative activity comes amidst a broader market rally, with the S&P 500 closing at a record high and gaining over 7% in 2025 [1].

The surge in GoPro and Krispy Kreme shares coincides with a resurgence in meme stock trading, following the recent surge in Opendoor Technologies Inc. stocks. Retail traders on Reddit have been targeting stocks with high short interest, aiming to trigger short squeezes. The increased attention to these stocks has led to significant price movements, with GoPro and Krispy Kreme being among the latest targets [2][3].

While the broader market has been resilient in the face of tariff uncertainty, earnings season has been mixed. General Motors reported a significant drop in core profit due to tariff headwinds, while other companies like Alphabet and Tesla are expected to report their earnings on Wednesday. The market is closely watching these developments as they assess the impact of President Trump's trade policy [4].

The increased volatility in GoPro and Krispy Kreme shares is likely driven by high short interest. As of Tuesday, 26.35% of Krispy Kreme's float was sold short, making it a prime target for momentum traders. The heightened speculative activity has led to significant price movements, with Krispy Kreme shares trading significantly above their 50-day and 100-day moving averages [3].

In conclusion, the recent surge in GoPro and Krispy Kreme shares is a result of high-risk trading and speculative interest from retail traders on WallStreetBets. The heightened speculation coincides with a broader market rally and a resurgence in meme stock trading. The increased attention to these stocks has led to significant price movements, with both companies seeing substantial gains in premarket trading.

References:
[1] https://www.cnbc.com/2025/07/23/gopro-krispy-kreme-join-the-meme-party-as-wall-street-speculation-ramps-up-.html
[2] https://theedgemalaysia.com/node/763738
[3] https://www.benzinga.com/trading-ideas/movers/25/07/46561494/krispy-kreme-stock-spikes-as-meme-mania-short-squeeze-frenzy-returns
[4] https://finance.yahoo.com/news/live/stock-market-today-sp-500-ekes-out-new-record-amid-wave-of-earnings-trade-updates-200345552.html