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Why Krispy Kreme Rocketed Higher Today

TheMotleyFool

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Why Krispy Kreme Rocketed Higher Today: https://g.foolcdn.com/editorial/images/826103/doughnut-donut-workers-hands-reaching-office-treats-baked-goods.jpeg

Shares of doughnut-slinger Krispy Kreme (NASDAQ: DNUT) rocketed 26.7% in Tuesday trading, after the stock appears to have been caught up in a new round of meme stock fever.

Meme stocks are beaten-down stocks with a high short interest, which retail investors on message boards such as Reddit target for purchase in hopes of generating a short squeeze.

Krispy Kreme, along with several other names, is soaring today as part of a current meme stock cohort, it seems.

Source Fool.com

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