On Friday afternoon, Koss Corp. stock was up more than 35% because of all the meme-stock talk going on about the company that makes headphones.
Koss KOSS, +25.59% shares went up 143.8% on Wednesday, the last trading day before the Fourth of July holiday. It was the biggest daily percentage gain since January 27, 2021, when they went up 480%.
It took 51.41 million shares to trade on Koss today, which is more than the 1.93 million shares that were traded on average over the last 65 days. 7.7% of Koss’s public float of shares are held by people who are short on them.
The stock is up almost 330% so far in 2024, while the S&P 500 index has only gone up 16.6%.
The company’s stock went up during the recent meme-stock craze that was caused by the return to social media of famous trader Keith Gill, also known as “Roaring Kitty.” On Wednesday, there was more talk about Koss and meme stocks on X, which used to be Twitter. However, Gill has not made any public posts about Koss.
An SEC filing shows that on May 30, Koss CEO Michael J. Koss sold 15,000 shares.
Gill posted an unclear picture of a dog on X on June 27, which led to rumours that it might have something to do with Chewy Inc. CHWY, +3.65%, an online store that sells pet supplies. Shares of both Chewy and the original meme stock GameStop Corp. GME, -0.78% went up after the post. Ryan Cohen is the CEO of GameStop. He helped start Chewy and was its CEO before becoming CEO of GameStop.
Chewy stock was up 3.6% on Friday after going down 3.1% on Wednesday. Friday, GameStop stock was down 0.8% after ending the day up 1.6% on Wednesday.
