The initial meme stock craze eventually fizzled out. But the frenzy occasionally reignites, as seen the past few years with sudden gains for BlackBerry, Bed, Bath & Beyond, and Chewy.

In a filing last week, Bed Bath & Beyond said it expected to show a net loss of $385.8 million for its fiscal quarter ending in November, including $100 million of impairment charges.

The latest so-called meme stocks include doughnut maker Krispy Kreme Inc. DNUT-Q, camera maker GoPro Inc. GPRO-Q and plant-based meat maker Beyond Meat Inc. BYND-Q. Each company is surging Wednesday.

The initial meme stock craze eventually fizzled out. But the frenzy occasionally reignites, as seen the past few years with sudden gains for BlackBerry, Bed, Bath & Beyond, and Chewy.

Think GameStop and Blackberry in 2021, and a few subsequent instances. Often, meme stocks are initially the target of “short sellers,” or investors betting against the stock. If other investors start ...