Amidst tariff concerns and market volatility, there has been a rise in meme stocks, sparked by two stocks in the past week. A meme stock gains popularity and a high trading volume, driven by strong social media interest.

GoPro (GPRO) shares rallied as much as 70% on Wednesday morning as retail investors on online forums, including Reddit, lit up with enthusiasm for the struggling camera brand. Meme stock enthusiasts went after GPRO this morning as nearly 10% of its float was sold short heading into today.

By now most people, even those vaguely tuned into finances, have heard the phrase "meme stock." But if you're just catching up, here are some basics.

The DORKs (DNUT, OPEN, RKLB, KSS) show how gamma squeezes can cause meme stocks to skyrocket, but also remind us of the risks involved. Play carefully.

GoPro's (GPRO) recent surge appears driven by meme stock dynamics and retail enthusiasm. See why I'm not interested in joining the stock price buying frenzy.