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.

Here are five key things investors need to know to start the trading day:

Amid the resurgence of meme stock trading this week, a new acronym has captured the attention of users on Reddit's infamous WallStreetBets: DORK.

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Conventional wisdom is out the door for some surging stocks as online hordes are bringing back meme stock mania.

WallStreetBets, the infamous subreddit credited with helping to spawn the meme-stock phenomenon, is giving its regular readers a taste of what it was like during the trend’s heyday in early 2021.

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.

The latest bout of meme stock mania, in which retail investors are pocketing quick fortunes by piling into heavily-shorted stocks like Kohl’s Corp. and Opendoor Technologies Inc., is likely getting some help from what Wall Street derivatives pros call a gamma squeeze.

Meme stocks are typically those that see significant jumps in trading volumes and stock prices, driven by a mix of social media hype, short squeezes, and technical breakouts, despite little to no change in the underlying business fundamentals.