Meme stocks exploded again this week primarily due to a renewed wave of retail investor enthusiasm, the return of influential figures from the original meme stock rallies, and the launch of new investment products designed to capture this speculative momentum. This resurgence reflects a broader market environment where risk appetite is increasing, and speculative trading is becoming mainstream once more.
One key factor driving the recent meme stock surge is the comeback of Keith Gill, also known as Roaring Kitty, who was a central figure in the 2021 GameStop frenzy. After a period of silence, he returned to social media in June 2024 with posts showing significant holdings in GameStop, which reignited interest and caused the stock to soar by about 30 percent. His symbolic posts, such as a reverse green card from the game Uno, are interpreted by the meme stock community as signals of a comeback, fueling further buying enthusiasm[1].
Another important development is the introduction of a new meme stock exchange-traded fund (ETF) by Roundhill Investments. This ETF targets a fresh group of viral stocks like Opendoor Technologies, Plug Power, and Applied Digital Corp, alongside other speculative companies such as Hims & Hers Health and Quantum Computing. The launch of this ETF signals institutional recognition of meme stocks as a distinct investment category and provides retail investors with a structured way to gain exposure to these volatile assets[1].
The broader market context also plays a significant role. In 2025, stock markets have reached new highs, partly driven by policies from the Trump administration that have encouraged rallies in sectors prone to speculation. Retail traders, emboldened by this environment, are diving back into risky positions with enthusiasm reminiscent of the 2021 meme stock mania. This renewed appetite for risk is evident in the growing popularity of leveraged and inverse single-stock ETFs, which have attracted billions in assets, indicating strong demand for aggressive trading tools[2].
Experts note that this meme stock resurgence is not just a fleeting trend but a sign that speculation is creeping back into the markets. The new MEME ETF’s success depends on capturing a viral moment similar to what happened in early 2021 when GameStop and AMC dominated headlines. Back then, retail investors, boosted by stimulus checks and lockdown conditions, pushed these stocks to unprecedented levels. While the current rally has not yet reached the explosive heights of that period, the environment is ripe for similar speculative behavior[2].
Additionally, investors have been intermittently turning to meme stocks throughout 2025 as they search for bargains in an otherwise expensive stock market. This sporadic interest has contributed to periodic spikes in meme stock prices, reflecting ongoing volatility and the cyclical nature of speculative trading[5].
In summary, the meme stock explosion this week is the result of a combination of factors: the return of influential retail investors like Roaring Kitty, the launch of new meme stock ETFs that provide fresh avenues for speculation, a market environment conducive to risk-taking, and the cultural momentum that keeps meme stocks in the spotlight. These elements together have reignited the viral trading frenzy that characterized the original meme stock mania.