The meme stock phenomenon isn't dead-it's just biding its time. Koss Corporation
The Meme Magic Behind Koss's Surge
By midday, Koss's stock price had reached a dizzying $15.42, up $11.06 or 253.67%. This followed a 31% jump in after-hours trading on Tuesday, ignited by a viral post on the popular Reddit forum r/Superstonk. The post, titled "The GME - KOSS Connection: The spark to ignite the basket, and perhaps DFV's next move?" sparked a wave of speculative buying.
Retail investors, nostalgic for the days of the GameStop Corp
Koss Stock's Bullish Exuberance
Koss's technical metrics paint a picture of bullish exuberance:
- The share price soared past its 5, 20, and 50-day exponential moving averages, signaling a strong bullish trend.
- Koss's share price of $13.87 outpaces its 8-day simple moving average of $6.29, a clear bullish signal.
- The stock price stands well above its 20-day SMA of $5.06 and its 50-day SMA of $4.44, reinforcing the bullish sentiments.
- With the share price also exceeding its 200-day SMA of $3.26, Koss is technically in a strong bullish setup.
- The MACD indicator at 1.16 and an RSI of 90.63, although indicating overbought conditions, suggest continued bullish momentum.
- Despite the company's shaky fundamentals-declining revenue and continued losses-these technical indicators have sent retail investors into a buying frenzy.
In the immortal words of the meme stock community: To the moon!