Love bombing hits the market in revenge of the DORKs
And maintaining our love of catchy sharemarket monikers (like the term 'magnificent seven' for those large dominant tech stocks), the latest batch of meme shares receiving oversized investor love bombs is the 'DORKs'.
D is for Krispy Kreme (its sharemarket ticker is DNUT), O is for real estate company Opendoor, R is for Rocket Lab (a New Zealand-founded rocket company), and K stands for Kohl's, a struggling US department store chain.
Revenge of the DORKs will make a lucky few – the authors of the frenzy – very wealthy, but if history is a guide, will leave plenty of carnage for those who jumped on the bandwagon too late.
At various points over the past week, each of the above companies has experienced a massive surge in their share prices on the back of social media focus from platforms such as Reddit.
A couple of additional names, such as struggling apparel group American Eagle Outfitters, have also now joined the group – having garnered online attention thanks to an advertising campaign featuring US actor Sydney Sweeney. The stock was down almost 50 per cent before it was 'memed' and rose 25 per cent in one trading session.
Camera company GoPro is another that has caught meme fever last week and jumped 130 per cent in a day.
The meme stocks are marked by being a fundamental counterintuitive choice as investments.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
2 days ago
- News.com.au
Australian fashion retailer General Pants Co says they've settled $69,000 bill amid court threat
A well-known Australian fashion retailer will oppose a proposal to wind-up the business after it was hit with legal action over alleged debts, court documents reveal. General Pants Co was served with an insolvency claim on July 17 by supplier UCC Australia alleging the chain had failed to pay $69,835.92 owed for stock delivered. According to a winding up application filed in the Victorian Supreme Court, UCC Australia alleged it had unpaid invoices for the supply of cameras and film between October and December 2024. 'The goods were delivered and accepted by the debtor and the invoiced amounts remain due and payable,' the document states. The supplier sent General Pants Co a statutory demand for on June 17, requiring the alleged debt be paid within 21 days of service. According to the court documents, General Pants Co failed to comply with the demand, with UCC Australia seeking a court order for a liquidator to be appointed to the company. The matter has been listed before a Judicial Registrar on August 20. But in a two-page response filed with the court on July 24, lawyers acting for General Pants Co signalled their intention to appear at the hearing and oppose the application. The response claims the company opposes the application because the company is solvent and has paid UCC Australia's debt. General Pants Co has been a staple in Australian fashion for more than 50 years and has 55 stores across Australia and New Zealand. UCC is an importer, distributor and wholesaler of FMCG, supplying electricals and food to some of Australia's major retailers, including Myer, Big W, Kmart, Woolworths and Amazon.
News.com.au
2 days ago
- News.com.au
‘The single tax is evident': Clever tactic 29-year-old used to buy her first home without any help
A strategic young woman has revealed the clever way she beat the odds to buy her first home all by herself. Taylor Jade Harris is originally from New Zealand, but she moved to Melbourne a few years ago and completely fell in love with the city, quickly deciding she wanted to make it her home. The 29-year-old corporate worker has been saving for a decade, accumulating over $50,000 for a deposit. After seeing a mortgage broker, Ms Harris got approved for a loan in January 2025 but, from the outset, she understood it was going to be harder as a single person to crack the property market. 'The single tax is evident. It is to your detriment to be single,' she told 'You only have one income to service the loan and you're just way more risky.' B uy ing a home on your own isn't easy in 2025 Financial comparison website Finder's 2025 First Home Buyer Report found 34 per cent of women purchased their home as a solo buyer this year. There's still a significant gender gap, with 44 per cent of men purchasing their first homes on their own. The gap has widened since Finder's previous report in 2021, where 44 per cent of men bought on their own compared to 38 per cent of women, and the proportion of single first-home buyers overall has fallen from 45 per cent in 2021 to 39 per cent in 2025. The odds weren't in the 29-year-old's favour, but she was determined to do it. After attending several inspections, it became unnervingly clear that the competition was fierce, with hundreds of people, particularly couples with two incomes, competing against her. 'When I was looking, it was terrifying,' she said. The competition to buy is fierce. Ms Harris would inspect between seven and eight properties every Saturday and she found that real estate agents were 'overwhelmed' with demand. Often when she inspected popular properties, agents would try to 'force other places' that were less appealing. 'There's quite a famous street in Melbourne called The Avenue, and I think the price guide was like $575,000 to $600,000', she said. The two-bedroom apartment had natural light and was located in Prahran, a trendy Melbourne suburb, near South Yarra. Ms Harris expected some interest, but she was surprised by how many people were keen on the property. Anything that doesn't feel like a cave and is in a good spot is always in demand. However, when she arrived for an inspection, she was blown away. 'There were like 400 people there and the line went all the way down the street. It was one of the most overwhelming things,' she said. When she inspected the property she said it was just 'overrun' with people, and the apartment ended up selling for over $610,000. She also found that whenever apartments went to auction, they always ended up selling for a crazy price, and she was quickly priced out. 'Everything going to auction was selling for $100,000 more. It was quite terrifying,' she said. The market was grim and Ms Harris quickly realised she had to get creative, becoming 'laser focused' on securing a place. The 29-year-old stretched her budget to find a charming two-bedroom in a trendy suburb, offering $745,000 in March this year. 'I ended up pushing my budget higher to try and thwart the competition,' she explained. Clever tactic that secured the property She also wanted to ensure the owner didn't go to auction like planned, so she added a personal touch to her offer. 'I wrote a letter to owner to differentiate myself and sell myself,' she said. Because competition was so fierce, every time Ms Harris went to an inspection she found she was always trying to sell herself to the agents and make herself memorable. The letter seemed like a way to let the owner know how much she loved the property and why she was so keen to buy it. In the heartfelt letter, Ms Harris explained that she would 'regret' not reaching out to the owner personally to explain why she wanted the property. 'I moved to Australia from London just over a year ago, originally from New Zealand, and have been trying to make this country feel like home,' she wrote. 'It's been a big transition, especially doing it solo, but from the moment I stepped into the space, something felt different. It was the first place I've seen where I could truly see myself 'living' and be part of the community.' The letter worked a treat. She got approved for the place and stopped it from going to auction. 'It was crazy,' she said. The 29-year-old revealed she lost her voice immediately after she purchased her home, which she put down to the 'stress' involved in buying. Even after securing the property, she still recalls the agent telling her she had bought at the 'wrong time' because her apartment complex has a pool and it was coming into winter. 'I was like, 'excuse me? I just bought this',' she said. Ms Harris also admitted that, when she got the keys to her apartment, she got 'cold feet' because it looked so different with no furniture and not styled, but now she is elated that the place is hers. The young homebuyer said that one lovely thing about buying her own home has been sharing it on TikTok and seeing how it has inspired other women to buy on their own. 'I posted a video and shared that I had bought it, and there were so many comments saying congratulations, especially since I was doing it alone,' she said. 'People had additional questions that were going through a similar journey of being a female solo buyer and it was so cool to help with that.' Buying a home on your own has become the exception, not the rule Finder's home loan expert Richard Whitten told that buying a property on your own is 'tougher than ever' because of the housing crisis. 'There's almost an assumption that home buyers are couples, because the amount of money required is often too much for one person to cover,' he said. 'A single person's borrowing power is lower than that of a couple with a comparable income. With property prices where they are today and higher deposit requirements and mortgage repayments, solo property buying is an uphill battle.' Mr Whitten explained that, in general, cost-of-living pressures are 'pushing many Aussies to team up' rather than try to buy solo. 'We're seeing a clear trend towards buying with a partner or even a family member, as people look for creative ways to get their foot on the property ladder,' he said. 'It's no surprise solo buyers are dropping – the financial strain of a mortgage is a lot more manageable when you're splitting it two or even three ways.' The home loan expert stressed that it is still 'possible to buy alone', but the numbers now show that this is the exception, rather than the rule.
News.com.au
2 days ago
- News.com.au
ASX Health Quarterly Wrap: PainChek grows aged care presence, EMVision starts pivotal trial
It's 31 July, marking the official close of the June quarterly reporting period under ASX Listing Rules. For healthcare companies, these filings set the stage for full-year financial results following the end of the Australian financial year. Investors have been watching closely for signs of revenue growth, cash burn rates, and strategic progress across a sector that's starting to regain momentum after a challenging few years. Higher interest rates, tighter funding, and a shift toward value stocks have weighed on growth sectors like healthcare. While the broader market rose 10%, the ASX healthcare sector decline 4% in FY25 but there are positive signs in the first month of FY26. The S&P/ASX 200 Health Care Index (ASX:XHJ) surged 5.4% last week, extending a 5% gain from the week prior and continuing its upward trajectory this week. PainChek (ASX:PCK) PainChek, the developer of a smart device-based pain assessment and monitoring application, continued to scale its presence in the global aged care market, reporting a base of 110,000 contracted licences across more than 1900 facilities in Australia, New Zealand, the UK and Canada. Once fully implemented, these contracts represent an annual recurring revenue (ARR) of $5.4 million, up 10% from the prior quarter contracted licences. As of June 30, the company had 71,000 implemented licences, generating $3.6 million ARR, a 17% increase on the prior year. Global customer retention remains strong at over 85%, with a net revenue retention rate of 106%, which PainChek said reflected expansion with existing clients as they themselves expand. Customer receipts for FY25 totalled $3.49m, including a record $1.02m in the June quarter, the first time quarterly receipts have exceeded the $1m mark. Recognised (unaudited) revenue for the 12 months to March 2025 came in at $3.36m, up 26% YoY while R&D grant income reached $1.41m PainChek also completed a $7.5m capital raise in July, which will support growth plans in North America and marketing of its new PainChek Infant App, now launched in Australia. In the US, Nick Garofoli was appointed head of business development to support its entry into the country's $582m long term care market with PainChek Adult. Garofoli has more than 15 years of leadership experience in technology, with a particular focus on aged care and senior living sectors. Cumulative global pain assessments have now surpassed 12.17m, up 103% on the prior year, building on what PainChek said was a unique and expanding clinical database. New contract models, including upfront payments and fixed activations, are helping accelerate implementation and improve cash flow for the company. Post quarter on July 21, PainChek completed its final submission to the US Food and Drug Administration (FDA) for de novo clearance for the PainCheck Adult App as a medical device in the US. PainCheck said its expects a financial decision within 75 days, giving a potential clearance date of "between late September to early October, 2025, if not sooner". The June quarter was significant for EMVision with start of a pivotal validation trial for its first commercial device, the emu bedside brain scanner to diagnose stroke in March. Recruitment is underway at five leading sites, including in Australia and the US for the validation trial to support FDA de novo clearance. The company has also launched a continuous innovation study to enhance stroke and traumatic brain injury evaluation features. EMVision's second product – its portable device to detect strokes and traumatic brain injury First Responder – also underwent successful aeromedical proof-of-concept testing during the quarter. A series of volunteer scans were taken in remote Australian settings in collaboration with the Royal Flying Doctor Service (RFDS) and Australian Stroke Alliance (ASA). Post quarter end EMVision received ethics approval for two studies that will advance First Responder prototype. The studies are designed to demonstrate that the device can fit seamlessly into emergency workflows and collect valuable data in the pre-hospital setting. The company also received an Australian government Industry Growth Program (IGP) Commercialisation and Growth Grant for $5m to fast-track commercialisation of the First Responder. EMVision is continuing to pursue a non-dilutive grant funding strategy across international, federal and state channels. During the quarter EMVision announced appointment of Ramsay Health Care (ASX:RHC) former CEO of Ramsay Australia Carmel Monaghan as non-executive director. The company has also increased its head office premises to expand production capabilities, including establishment of a pilot commercial production line for the First Responder device. As part of its market engagement and education strategy EMVision is showcasing its technology at leading scientific and industry events including with long-term collaborators such as ASA and NYSE-listed Keysight Technologies. It's pivotal trial has been accepted for an oral presentation at the World Stroke Congress in Spain in October. EMVision's tech will also be presented at the US Military Health System Research Symposium in August, presenting an opportunity for the company to introduce its tech for potential point-of-car TBI diagnosis. The company had $10.5m cash at June 30, 2025 and also o secured a $400,000 milestone grant post-quarter and has $4.4 million in additional non-dilutive funding available, alongside an anticipated FY25 R&D tax rebate due later this year. Clever Culture continued to build momentum during the June Quarter with big pharma AstraZeneca progressing to routine use of its APAS Independence instruments, which remain the only US FDA-cleared AI technology for automated culture plate reading. After successfully validating the APAS Independence for 90mm settle plates, AstraZeneca now has nine installed across global sites. Post quarter in July Novo Nordisk placed an order for one of the instruments as part of a group evaluation as Clever Culture continues to target big pharma in its growth strategy. Sales opportunity from existing customers now exceed $40m with five existing customers represent opportunity of 60 to 80 APAS instruments, equating to $36m-$48m of potential upfront sales revenue and $7m-$9m in annual recurring revenues. The company has been developing new 55mm settle plates to double the capability of the APAS instruments. The company said instrument hardware and software has been completed with AI analysis module and launch targeted for August. The company ended the June quarter with a cash balance of $1.3m, and $3.8m in known/committed cash inflows expected over the next two quarters. "Fiscal year 2025 has been a turning point for the company, resulting in a major milestone towards becoming a sustainably profitable business," CEO and managing director Brent Barnes said. "Importantly, this is just the first year of establishing APAS®Independence in the pharmaceutical manufacturing market. "We launched with the ability to automate approximately 50% of environmental monitoring tests through our settle plate capability.
