Krispy Kreme Inc. (DNUT) shares surged 5.56% in Thursday's trading session, caught up in the latest wave of meme stock mania sweeping through Wall Street. The iconic doughnut chain has become an unexpected beneficiary of renewed retail investor enthusiasm for beaten-down, heavily shorted stocks.

The stock's rise comes amid a broader resurgence of speculative trading activity reminiscent of the 2021 meme stock craze. Social media platforms like Reddit's WallStreetBets forum have been abuzz with discussions about Krispy Kreme and other potential meme stock candidates. On Wednesday, Krispy Kreme shares had already spiked as much as 38% intraday before closing 4% higher, with retail traders pouring $3.9 million into the stock – the highest level since May 2024, according to Vanda Research data.

While there was no company-specific news driving the stock higher, Krispy Kreme's relatively high short interest and its status as a well-known consumer brand have made it an attractive target for retail traders looking to spark a potential short squeeze. The company is set to report its second quarter 2025 results on August 7, which could further fuel volatility in the stock. As with other meme stocks, investors should approach Krispy Kreme with caution, as these rapid price movements are often disconnected from underlying business fundamentals.