Meme Stocks Are Back - Don’t Miss the Next Breakout

By AltIndex Research · 4 min read · July 23, 10:44 pm

It’s happening again. Meme stocks – those volatile, community-driven equities that rise (and fall) not on fundamentals, but on internet hype – are once again dominating Reddit threads and retail investor watchlists.

At AltIndex, we track Reddit mentions of stocks and send out alerts when unusual activity spikes. And over the past two weeks, those alerts have exploded – surging by more than 200%. That’s a clear signal: the meme stock mania is back.

What Are Meme Stocks?

Meme stocks are equities that gain popularity through social media platforms like Reddit, especially the infamous r/WallStreetBets. These stocks often belong to companies with struggling business models, minimal news flow, or even financial distress — and they are frequently targeted by institutional investors for shorting. Yet despite this, Reddit hype alone can cause their share prices to skyrocket in a matter of hours or days.

The meme stock movement isn’t about earnings or guidance - it’s about momentum, narrative, and community action.

A Look at This Month’s Meme Stock Winners

Take a look at what’s been happening this month alone:

Opendoor Technologies ($OPEN): In early July, it was trading at $0.56. Just three weeks later, the price rocketed to $4.79, a 740% increase. Notably, this jump came just five days after our Reddit alert.
GoPro ($GPRO): Up 116% over the last month. No major earnings or news - just Reddit hype.
Krispy Kreme ($DNUT): Shares jumped 71% without material announcements.
Kohl's ($KSS): Up 49%, largely driven by retail speculation.

These dramatic spikes aren't tied to earnings reports or analyst upgrades. They are tied to viral posts and comments that are being upvoted by Reddit users (and probably bots) Reddit is once again moving the market.

Which Stocks Might Be Next?

At AltIndex, we don’t just look at prices. We analyze Reddit mentions in real time, track sentiment, and aggregate social media momentum. Based on our latest data, here are some stocks to watch:

Clover Health ($CLOV): Mentions are surging with increasingly bullish tone.
Rocket Companies ($RKT): Rising in Reddit discussions, with optimism returning.
Ocean Power Technologies ($OPTT): A 175% increase in mentions in just 24 hours.
Iovance Biotherapeutics ($IOVA): A 1,000% jump in mentions, and the stock is up 77% in the last five days.
Gamestop ($GME): The OG meme stock is being talked about again. With retail traders nostalgic for 2021, a fresh rally may not be far off.

You can track all these and more on our meme stock tracker, updated hourly.

Why Should Investors Care?

Even if you're a long-term, fundamentals-driven investor, ignoring meme stocks is a mistake:

They offer fast gains. Risk-averse investors can jump in early on trends and make fast gains if they plan their exit properly.
They move markets. Meme stock rallies can spill over into broader sectors or ETFs, creating volatility.
They create false narratives. Retail-driven rallies can confuse fundamentals. Knowing what’s hype and what’s real gives you an edge.

Perhaps most importantly, the ability to track sentiment in real time is becoming a core part of modern investing.

Use Data, Not Emotion

At AltIndex, our Reddit alert system monitors millions of posts daily across Reddit and social platforms. We filter out noise, identify trends early, and send alerts when something unusual is happening. That’s how we caught Opendoor before its 700% run.

But meme stocks aren’t just a buying opportunity - they’re also a shorting opportunity.

Historically, the vast majority of hyped penny stocks collapse after the buzz fades. Many retail traders get caught buying the top. That's why some of the most successful investors are using Reddit trend data to go the other way - betting against unsustainable hype.

Bottom Line

Meme stocks are back. The buzz is growing. And Reddit is once again proving it can move markets with momentum, memes, and upvotes.

But don't go in blind. Use data to your advantage. Whether you're looking to ride the wave or bet against it, staying ahead of the Reddit chatter is key.

Want to know what meme stock is about to move next?

👉 Track live Reddit mentions and get alerts here