Koss Corporation (NASDAQ: KOSS) stock is up more than 250% today, sparking renewed interest in the 'meme stock' that first gained attention during the January 2021 trading frenzy. đ Despite the company's weak fundamentals and lack of any recent announcements, the price action is evident on social media platforms (especially a post on /r/superstonk titled "GME â KOSS Connection: Spark to ignite the basket and perhaps DFV's next move?" ) and renewed activity from influential retail investors.
Koss gained $11.06, a 253.67% increase, as the share price jumped to $15.42 by midday. The increase comes after discussions on the popular Reddit forum r/Superstonk triggered a 31% surge in post-trading on Tuesday.
The renewed interest in Koss coincides with the recent return of Keith Gill, known on social media as "Roaring Kitty" who played a key role in the original GameStop short squeeze. Gill's reemergence has reignited enthusiasm among retail investors for potential short squeezes on various meme stocks.
Koss' market metrics reflect the stock's dramatic move, with its market cap rising to $142.709 million. The company's year-to-date return has reached a staggering 360.30%, far outpacing the S&P 500's gain of 15.94%. However, it is important to note that Koss' fundamentals are weak, with falling revenue and ongoing losses. The company reported a trailing twelve month revenue of $12.45 million and a net loss of $1.12 million.
Do you think Koss stock could experience a squeeze like GameStop? We are waiting your comments! đŹđ
