The DORKs are popular this week. Here's the new class of meme stocks retail traders are pumping to the moon.
The DORKs are popular this week.
With stocks at record highs, there's a new class of meme stocks that's grabbed the attention of retail traders. Absent are the OG meme names GameStop and AMC. Those early favorites have been replaced by another group.
The DORKs—an acronym being thrown around by bullish traders to refer to the ticker symbols of Krispy Kreme, Opendoor, Rocket Lab, and Kohl's—are spiking in the last few days, with the burst of enthusiasm sparked by a stunning rally in Opendoor stock that's mostly cooled off even as the rest of the group surges.
It's looking similar to 2021, when everything from crypto to pandemic-era blank check firms to highly-shorted companies with weak financials were getting pushed to dizzying heights.
And with recent legislation proposing to loosen day trading restrictions by lowering the minimum margin account threshold, there's never been a more retail-friendly time in the markets.
But there are differences, too, between today's rally and the pandemic-era frenzy.
"Today's surge is powered by advances in trading technology, wider use of leverage, and the rapid expansion of the options market. Confidence among retail traders is notably higher, fueled in part by recent gains in crypto markets," Mark Hackett, chief market strategist at Nationwide, said. "While this activity reflects rising risk appetite, it remains isolated and has yet to challenge the broader market's calm and steady tone."
Taking a page from Warren Buffett's book, investors are getting greedy, which also means extra caution may be warranted.
Tony DeSpirito, head of US fundamental equities at BlackRock, is sensing some pockets of froth in the market as sentiment continues to rise and meme stocks surge.
In particular, stocks with high multiples but low growth are concerning to DeSpirito.
"Meme stocks are the epitome of greed," DeSpirito told Business Insider. "If I'm advising an individual, I'd tell them to stay away from the meme stocks and get the stocks that actually have good cash flow, good earnings, etc."
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Here's what's been moving in the meme stock world.
Opendoor Technologies
Prior to last week, Opendoor was an unloved penny stock on the verge of delisting from the Nasdaq. After hedge fund manager Eric Jackson shouted out the stock on X and gave it a hefty $82 price target, enthusiasm for Opendoor surged, activating the retail trader cohort who quickly went all-in.
The stock has rallied over 440% in the last month alone, going from under a dollar to $2.88, even hitting $4.71 briefly at one point on Monday. The rally has stalled in recent days, with the shares down as much as 28% on Wednesday.
The stock is still up 310% in the last month.
Kohl's Corporation
Kohl's stock jumped 38% on Tuesday, not on the heels of corporate news or earnings, but rather r/WallStreetBets chatter. Retail traders identified a short interest of nearly half of the company's float, making the stock a perfect candidate for a short squeeze.
The frenzy caused trading in Kohl's shares to be temporarily paused during Tuesday's session.
Krispy Kreme
The doughnut chain Krispy Kreme surged 28% on Tuesday. The stock started 2025 trading at nearly $10 and proceeded to slide downwards in the following months after the company reported disappointing earnings—until this week.
The stock soared again on Wednesday, up as much as 39%before paring gains.
Krispy Kreme also has a significant short interest level of 33%, making it another target for Reddit short squeezers.
Rocket Lab
Rocket Lab stock has surged amid increased retail interest in space technology. The company provides end-to-end space services and is a rival to Elon Musk's SpaceX.
The stock has been a Wall Street Bets favorite for many months now. Rocket Lab has surged nearly 50% in the last month and is up nearly 100% year-to-date, bolstered by news of recent government contracts and scheduled launches.
The company's short interest comprises 13% of its float.
GoPro
Digital camera producer GoPro was also swept up in the meme-stock craze.
In its heyday back in 2015, the stock traded at $67. A big influx of retail volume has propelled the stock from under a dollar to above $2 immediately upon Wednesday's open. The stock was up as much as 72% on Wednesday before paring the gain to around 40%.
Nearly 10% of GoPro's float is shorted.
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