The recent revival in meme stocks, evident in today’s 25% surge in Krispy Kreme, could reflect both a targeting of investors betting against the bull market and the impact of passive investment strategies that have sapped liquidity and stoked volatility.

Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest beaten down companies to see a share price revival are Krispy Kreme, GoPro and Beyond Meat.

Retail investors appear to be using the momentum of the S&P 500 to target meme stocks in a bid to create a similar short squeeze to that of GameStop during 2021's meme frenzy. Rec