The latest meme-stock frenzy shows that “market psychology and crowd behavior can sometimes matter more than the numbers,” says Capital.com analyst Daniela Sabin Hathorn

The latest so-called meme stocks are the department store Kohl’s, which has surged this week, and the online-based real estate company Opendoor Technologies, which has skyrocketed this month. Both companies have been struggling in their respective sectors.

A company that lets homeowners quickly sell their homes has been the focus of frenzied stock trading over the last several days.

Kohl’s stock more than doubled at its intraday peak Tuesday, then pulled back, a day after Opendoor shares did the same.

Opendoor Technologies shares surged as much as 24% Tuesday before reversing early gains, as retail investors drove wild swings in the meme stock.

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The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.