Key Points Opendoor has become the latest "meme stock," with its rally heavily influenced by retail investor enthusiasm.Despite the recent positive momentum in share price, the company faces substantial financial challenges,

The term "meme mania" emerged when companies with no apparent reason to rally began to reach stratospheric valuations, making millionaires overnight with no connection to their fundamentals. Four years later,

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.