WallStreetBets DApp and the Meme Stock Rally

On July 23, 2025, the financial world witnessed a resurgence of the meme stock phenomenon reminiscent of 2021, driven by retail investors rallying around stocks like GoPro and Krispy Kreme. This movement, largely fueled by Reddit’s WallStreetBets community, has seen these stocks surge despite weak fundamentals or recent earnings updates.

Meme Stock Surge

Retail investors, often referred to as “retail bros,” charged into U.S. markets at Wednesday’s open, lifting GoPro by nearly 50% and pushing Krispy Kreme up by 12%. These stocks were picked up by the WallStreetBets community, joining a new lineup of high-risk favorites. The rally is characterized by a focus on stocks with high short interest, reminiscent of the GameStop mania of 2021. Traders are targeting stocks that hedge funds have heavily shorted, aiming to push prices up and force exits.

Criteria for Meme Stock Targets

CNBC identified other potential meme stock targets using three criteria: stocks with short interest above 30%, market values between $50 million and $2 billion, and share prices under $20. This formula is designed to find the next target for retail investors.

Jim Cramer’s Shift on Meme Stocks

In a notable shift, Wall Street’s Jim Cramer, who had previously criticized meme stocks like GameStop and AMC, advised against shorting Kohl’s. Kohl’s stock experienced significant volatility, leading to a temporary halt in trading. The stock ended the day up by 37.62%, with roughly 50% of its outstanding shares sold short. Cramer attributed the surge to the stock’s high short interest rather than its business fundamentals, noting that it had been discussed on the WallStreetBets subreddit.

WallStreetBets DApp Fundamentals

The WallStreetBets DApp, a cryptocurrency asset, closed at $0.000227263 on July 21, 2025. Its 52-week high was $0.000250548, and its low was $0.0000475024, both recorded on February 15, 2025.

This rally highlights the ongoing influence of retail investors and the WallStreetBets community in shaping market dynamics, reminiscent of past meme stock movements.