A Meme Stock Rollercoaster Opendoor Technologies (NASDAQ:OPEN) is surging 25% in morning trading today, reigniting excitement among retail investors who have crowned it a meme stock darling. Fueled by social media hype on platforms like Reddit’s WallStreetBets and X,

(Reuters) -Shares of retail favorites Opendoor Technologies and Kohl's resumed their rally on Thursday, fueled by continued meme stock euphoria and broader markets hitting record highs. Opendoor Technologies,

The market saw a fresh meme stock frenzy this week. While high exuberance can be a contrarian sell signal, sources say the market is still in good shape.

Meme stocks are typically those that see significant jumps in trading volumes and stock prices, driven by a mix of social media hype, short squeezes, and technical breakouts, despite little to no change in the underlying business fundamentals.

Despite the enthusiasm, Opendoor has significant financial troubles. The company's top line has plummeted from its height in 2022. The company's current annual run rate is well under a third of its 2022 sales. Opendoor has also never turned a profit and has significant negative cash flow.

Meme stocks are back. Jolted by a sudden surge in Opendoor stock last week, a handful of other shares have ripped higher on interest from retail traders.

The latest so-called meme stocks are the department store Kohl’s, which has surged this week, and the online-based real estate company Opendoor Technologies, which has skyrocketed this month. Both companies have been struggling in their respective sectors.

Kohl’s stock more than doubled at its intraday peak Tuesday, then pulled back, a day after Opendoor shares did the same.

This month has seen a resurgence of so-called 'meme stock' trading activity as organised groups of retail investors pile into a handful of companies.

Opendoor (OPEN) shares have skyrocketed over 500% in a month, fueled by Reddit’s WallStreetBets and a return of meme stock mania. The rally parallels crypto’s $4 trillion market cap milestone and renewed investor confidence.

The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.