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Investing.com -- Shares of heavily shorted companies jumped in premarket trading on Wednesday as the recent meme stock revival extended to additional names.
Doughnut chain Krispy Kreme (NASDAQ:DNUT) surged 33%, building on its near 27% gain on Tuesday. Between 15% to 30% of Krispy Kreme’s outstanding tradable shares are currently shorted, according to recent data from multiple sources.
Camera maker GoPro rocketed about 47% to $2.01, with short interest at between 8% to 10%. Plant-based meat producer Beyond Meat (NASDAQ:BYND) jumped 10.4%, with short interest standing at over 35%.
The growing interest in these heavily shorted stocks follows Kohl’s (NYSE:KSS) volatile 37.6% surge on Tuesday, driven by high retail interest. Kohl’s remained flat in Wednesday’s premarket trading but ranked as the third most trending ticker on Stocktwits, a social media platform focused on retail investors.
Call volume for Krispy Kreme exploded Tuesday with over 100,000 contracts trading - 71 times the average daily volume over the past four years, according to Bloomberg data. GoPro saw its highest call volume since 2021 with over 56,000 contracts.
Online gifts retailer 1-800-Flowers.Com rose 8.1% in premarket trading. Meanwhile, Opendoor Technologies (NASDAQ:OPEN), which has skyrocketed 440% this month, dropped 11% on Wednesday.
Day traders on Reddit were actively discussing potential new targets, with some users promoting Krispy Kreme. Other stocks with relatively high short interest, including Campbell’s Co., Aehr Test Systems, Polaris (NYSE:PII) Inc., and Wendy’s (NASDAQ:WEN) Co., have also attracted buyers this week.