Today, meme stocks are once again surging. Investors in Koss (NASDAQ:KOSS) and KOSS stock have seen a stock price surge of approximately 35% at the time of writing.
Why the excitement? Well, it appears the frenzy around GameStop (NYSE:GME) and its meme stock peers isn’t over. I’d encourage investors to take a look at all the hot Reddit stocks today, and notice the correlation. These stocks are now trading as a peer group in high correlation, making each meme stock seemingly a play on each other.
However, here’s another interesting take on why KOSS stock is on the move today.
More Than One Angle With KOSS Stock
Today, an intriguing article written by InvestorPlace analyst Louis Navellier highlighted one angle many investors may not have thought about when it comes to KOSS stock. I’d encourage investors to have a read.
But, to summarize, Koss could be riding the coattails of Apple (NASDAQ:AAPL) in the headphones and earbuds space. Navellier wrote the following:
“In its most recent quarter, Koss reported sales of $4.9 million (most of that headphones and earbuds), up 18.4% year-over-year. Two things to take away from that. One, Apple makes far more money selling AirPods in one day than Koss generates in revenue for a quarter.
That’s not what I’m focused on, though. I’m looking at the fact that Koss saw its sales rise appreciably. People working from home are helping to boost headphone sales, but AirPods have kicked off a wave of popularity in wireless earbuds. Not everyone can afford AirPods, and not everyone wants AirPods.”
Indeed, it appears investors are buying into the bullish story behind a resurgence in retail. Whether it’s headphones, video games or anything else consumers can put their stimulus checks toward, there’s intrigue here. A lot of intrigue.
On the date of publication, Chris MacDonald held a SHORT position in GME.