“ [The meme-stock] surge is powered by advances in trading technology, wider use of leverage, and the rapid expansion of the options market. Confidence among retail traders is notably higher, fueled in part by recent gains in crypto markets,” wrote Mark Hackett, chief market strategist at Nationwide.

Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest beaten down companies to see a share price revival are Krispy Kreme, GoPro and Beyond Meat.

Investor enthusiasm faded for the latest meme stocks on Wednesday, with shares in heavily shorted Krispy Kreme and GoPro closing well below their session highs, while Tuesday's investor darling - department store Kohl's - finished sharply lower.