Opendoor Technologies (OPEN) shares soared as much as 121% during intraday trading before closing up 42.6% on Monday, as retail investors drove a meme stock-style rally sparked by upbeat remarks from an investor last week.

Opendoor Technologies' recent rally is driven by meme stock dynamics and short interest, not just fundamentals. Click here to find out why OPEN stock is a Hold.

TheStreet. GameStop has been a dying business for more than a decade. Once it became viable to download video games directly to your device, the retail chain began its slow march to irrelevancy. Stock prices,

Opendoor stock took off last Monday after Eric Jackson, founder of EMJ Capital, announced his firm had taken a position in the company and said the stock “could be a 100-bagger over the next few years.” The term refers to stocks that return $100 for every $1 invested.

Shares in a donut chain, camera company and meat-substitute maker surged Wednesday in a revival of meme stocks. Krispy Kreme, the North Carolina-based chain with about 350 shops, soared as much as 25% on Wednesday. GoPro, famous for its miniature action cameras, jumped 49% while Beyond Meat rose 11%.

Opendoor Technologies Inc., a purveyor of residential real estate, has sextupled thus far in July with little news to justify the surge. Investors left the company for dead a few years ago when the housing market froze up,

Krispy Kreme and action camera company GoPro have joined the meme stock rally as their shares surge. Like the shares of Opendoor and Kohl’s, both Krispy Kreme and GoPro were heavily cited by users of the wallstreetbets subreddit. The meme stock rally is back and gathering steam.

Opendoor’s remarkable transformation from a sub-$1 stock to a $2.60 premarket sensation tells a story of dramatic volatility and speculative excess. The company went public via SPAC in December 2020,