Meme stocks surged in early Wednesday trading as investors flocked to speculative trades amid market volatility. Beyond Meat soared over 95%, Krispy Kreme and GoPro rallied over 20% and 14% respectively.

Beyond Meat, a new meme stock, surged over 900% in the past five days, boosted by a Walmart distribution deal. The stock was added to the MEME ETF, sparking retail buying. Retail traders purchased nearly $35 million of Beyond Meat shares on Tuesday.

Beyond Meat had a short float of over 64%, setting the stage for a potential short squeeze. Krispy Kreme and GoPro also had high short interest. Opendoor Technologies, another meme stock, was down over 8% on Wednesday morning.

Roundhill Investments relaunched its MEME ETF after being shut down in 2023. The ETF has seen a 17% drop recently. Jake Conley covers US equities for Yahoo Finance.

Read more at Yahoo Finance: From Beyond Meat to Krispy Kreme, meme stocks surge as investors pile back into speculative trades