Nearly four years after GameStop and AMC became household names, meme stocks are back—with a vengeance. In recent months, companies like Blackberry (BB), SunPower (SPWR), and even Tupperware (TUP) have posted jaw-dropping rallies, driven largely by Reddit threads, TikTok videos, and Discord hype. But is Meme Stocks 2.0 just déjà vu—or something fundamentally different?
What’s Driving the New Surge?
Retail enthusiasm is once again surging. According to Vanda Research, retail flows into highly shorted small-cap stocks jumped 42% in May 2025, the biggest spike since early 2021. Unlike the original meme wave, today’s frenzy is more coordinated across multiple platforms and boosted by influencers who now hold major online followings.
The catalysts?
- Short interest over 30% in many small caps
- Low float stocks attracting high leverage bets
- AI tools and trading bots used by some retail investors
Meme Stocks 2.0: New Players, Same Game
While GameStop (GME) and AMC Entertainment (AMC) remain symbols of the movement, newer names are catching attention:
- SunPower (SPWR) – up over 300% in three weeks
- Tupperware (TUP) – rallied 180% despite negative cash flow
- Koss Corp (KOSS) – back in meme territory after laying off staff
Even biotech penny stocks like Bionano Genomics (BNGO) have seen triple-digit intraday swings.
Are Institutions Joining In?
Unlike in 2021, some hedge funds are reportedly front-running retail sentiment—buying options before trends go viral. Data from S3 Partners shows institutional options volume in meme stocks doubled year-over-year.
At the same time, regulators remain cautious. The SEC reiterated warnings about social media manipulation and reiterated its monitoring of “high volatility securities”.
High Risk, High Drama
Despite the buzz, fundamentals often remain detached from price action. Many of these companies are heavily indebted, unprofitable, or at risk of delisting. Yet for younger traders, the appeal is about momentum, not balance sheets.
“Retail investors are treating these stocks more like digital collectibles than investments,” says Daniel Cho, analyst at eToro.
Bottom Line
Meme Stocks 2.0 highlights both the democratization—and gamification—of modern investing. While opportunities for big gains exist, so do risks of severe losses. For traders, the key may be treating the meme market more like a casino floor than a trading floor.
Marc has been involved in the Stock Market Media Industry for the last +5 years. After obtaining a college degree in engineering in France, he moved to Canada, where he created Money,eh?, a personal finance website.
