模因股狂潮席卷美股：散户借社交媒体推高多股，轧空风险引机构警示

Group 1 - The speculative frenzy driven by social media initially focused on Opendoor Technologies, whose stock price surged 312% in six days from under $1, with options trading volume exceeding 2 million contracts, surpassing the peak levels seen during GameStop's rise in 2021 [2] - Following this, Opendoor's stock experienced a significant decline, dropping 20% in a single day, with trading volume spiking to over 340% of its average for the past three months [2] - The frenzy quickly spread to other low-market-cap stocks, such as Kohl's, which saw its stock price soar 38% in one day due to a high short interest of 48% of its float, followed by a 14% pullback [4] Group 2 - Krispy Kreme's stock rose as much as 35% during the day, ultimately closing with a 4.6% gain, contributing to an overall weekly increase of 38%, with call options trading reaching a historical high of over 1 million contracts [6] - GoPro's stock experienced a remarkable 75% increase over the week, marking its largest single-week gain in history, attracting retail investors due to its short interest of nearly 10% of its float [7] - The current retail investor logic has fundamentally shifted, with social media influencers becoming the key decision-makers rather than company fundamentals, as highlighted by Max Gokhman from Franklin Templeton [10] Group 3 - The ongoing speculative activity is facing challenges, as evidenced by Krispy Kreme's drop from a 35% gain to 4.6%, and Opendoor's consecutive days of decline, indicating instability in the current upward trends [11] - Analysts note that the influx of retail funds into micro-cap stocks reflects an increase in market risk appetite but also poses liquidity risks, suggesting that the social media-driven capital game may encounter more significant volatility [11]