Live Updates
Updates appear automatically as they are published.
Morning Update
Markets have been open about 45 minutes, so let’s take a look at some of the most popular names today:
- Rocket Companies: Was up 7% premarket after it became the top trending stock on Wallstreetbets, but gains have faded. Shares are now flat.
- Opendoor: Down about 17% and has been trading fairly consistently since its initial drop shortly after the market opened.
- GoPro: Up 50%. A similar story to Opendoor, it saw a steep decline at the open and shares have been trading in a relatively steady range since.
- Krispy Kreme: Up 20% so far this morning. Share saw a surge between 9:55 a.m. and 10:10 a.m.
- Kohl‘s: Shares continue to trend down after yesterday’s big gains and have currently lost 15%.
We’d assume anyone buying shares of meme stocks knows the risks at this point, but Opendoor and Kohl’s both show the quick losses that can happen after massive buying pressure slows down.
Other Stocks on the Move
Beyond ‘meme stocks’ there are some stocks making large moves today. GE Vernova (NYSE: GEV) is one of the companies best levered to the growth in power from AI data centers. Its stock is up 14% today after outstanding earnings.
A smaller stock playing the same trend is Power Solutions International (Nasdaq: PSIX). It’s up 8% today largely thanks to tailwinds from GEV.
Markets Look Strong Today Overall
After some rotation out of risky assets yesterday, markets look pretty strong today. The S&P 500 is up .37%. That should be a ‘tailwind’ for most momentum stocks.
Nothing But Red for Opendoor
The market open today is especially brutal for Opendoor. Shares were trading hands for $2.59 in premarket but immediately dropped to $2.37. There’s been a slight rebound, but the stock is currently down 15%.
Krispy Kreme Premarket Gains Not Holding
The market just opened and as we expected, there is extreme volatility in most the meme stock names we’ve been covering.
Krispy Kreme was trading for $5.88 premarket but is now trading for $5.40.
GoPro hit $2.60 premarket but is now trading for $2.20.
We’ll continue monitoring price action as the day goes.
Market is Opening
The market is opening and here’s where some of the most notable meme stocks stand:
- Opendoor: Down 12%
- GoPro: Up 72%
- Kohl’s: Down 2%
- Krispy Kreme: Up 42%
Expect significant movement in names like GoPro and Krispy Kreme within the first 15 minutes of trading.
Rocket Companies Up 7% Premarket
Rocket Companies is the most discussed stock right now on Wallstreetbets and is seeing strong gains premarket. The stock is up about 7%. That might look like a lot less interest than GoPro, but keep in mind that Rocket is a $34 billion company, so stock movements won’t be as dramatic as a tiny microcap like GoPro.
What about Opendoor?
We’ve been tracking Opendoor in recent days and it appears investor interest is fading. Altindex currently has the company ranked the fourth most discussed stock on Wallstreetbets (it was first yesterday).
With fading interest, Opendoor’s stock is declining and is currently down 10% in premarket trading.
Here we go again.
On Monday, Opendoor (Nasdaq: OPEN) surged thanks in large part to massive call buying volume. Yesterday, it was Kohl‘s (NYSE: KSS) turn.
Now today, it looks like GoPro (Nasdaq: GPRO) and Krispy Kreme (NYSE: DNUT) are attracting investor attention.
The common theme is beaten-down stocks that could see a massive turnaround. In short, everyone is looking for the next Carvana right now. We’ll be updating this live blog throughout the day with news on the most popular meme stocks, so leave this page open in your browser as updates will be pushed automatically.
We’ll look at price action in these companies but also cover other stocks seeing massive investor interest. Buckle up, it’s starting to feel like 2021 again in the markets.
GoPro Up 83% in Premarket Trading
The stock with the largest share price gains today will likely be GoPro. The company is up 83% as of 9:06 a.m. ET.
According to Wallstreetsbet tracking site Altindex, GoPro is currently the third most discussed compnay after Rocket Companies and Kohl’s. Like other companies attracting investor interest right now, GoPro is off significantly from prior highs. The company traded for more than $85 per share in 2014, but closed yesterday trading for $1.37 per share. At market open its market cap will likely be around $400 million, which means GoPro is still a very small stock.
Krispy Kreme Joins the Meme Party
Altindex currently has Krispy Kreme as the ninth most discussed stock on Wallstreetbets. After rejoining the public markets in 2021, Krispy Kreme is down 78%.
Yet, shares are up 36% in premarket trading. As you can imagine with those returns, the company has been struggling. 2025 sales are expected to hit $1.54 billion, a healthy drop from last year’s $1.66 billion in sales.
The post Meme Stock Live: Opendoor, GoPro, and Krispy Kreme To See Massive Stock Movements on Wednesday appeared first on 24/7 Wall St..
Click this link for the original source of this article.
Author: Eric Bleeker
This content is courtesy of, and owned and copyrighted by, https://247wallst.com and its author. This content is made available by use of the public RSS feed offered by the host site and is used for educational purposes only. If you are the author or represent the host site and would like this content removed now and in the future, please contact USSANews.com using the email address in the Contact page found in the website menu.
