3 Meme Stocks That Could Boom in 2026: What the Data Shows

Meme stocks remain one of the most unpredictable corners of the market. Since GameStop ignited the phenomenon back in 2021, the landscape has shifted dramatically. Today’s winners aren’t just hype machines—some actually have solid business models backing them up. The volatility is real: Beyond Meat rocketed from $0.50 to $7 per share in a week, only to collapse to $1. Yet not all meme stocks follow this boom-and-bust pattern.

Carvana (CVNA): The Surprising Success Story

Carvana has defied the typical meme stock trajectory. Trading up more than 60% this year, the online used car retailer shows genuine momentum. Needham analyst Chris Pierce sees room to run, setting a $500 price target on CVNA stock.

The numbers tell the story. Q3 revenue surged 55% year-over-year, while net income nearly doubled. The company crossed into $20 billion annual revenue run rate territory for the first time. Used car unit sales hit roughly 156,000, marking a 44% year-over-year jump.

Pierce credits Carvana’s competitive edge to significant real estate investments and proprietary software systems—elements that open the door to sustained competitive advantage. This isn’t just meme energy; it’s execution.

Rivian Automotive (RIVN): The AI Play

Electric vehicle stocks can swing wildly, and Rivian Automotive exemplifies that volatility. Up over 10% this year despite the broader EV sector’s struggles, RIVN is attracting serious analyst attention.

Ivan Feinseth from Tigress Financial Partners believes the real catalyst lies in Rivian’s AI and software initiatives. “Investments in software, AI and driver-assist features could improve safety and unlock future upgrade revenue streams,” he noted, raising his target to $25 per share.

The self-driving angle matters. While Alphabet’s Waymo leads in full autonomy on active highways, Rivian is building hands-off highway driving capabilities. Future software upgrades position the company to capture additional revenue—and open the door to the autonomous vehicle opportunity that’s still in its infancy.

Krispy Kreme (DNUT): Recovery in Motion

DNUT has been punished this year, down over 50% from its 2025 peak. Yet Bank of America’s Sara Senatore maintains a “Buy” rating, arguing the fundamentals don’t match the selloff.

“With double-digit growth across revenue and earnings, Krispy Kreme should command a premium valuation,” Senatore wrote to clients. She highlights the brand’s expansion potential: the company plans to grow from 3,750 locations to 8,000 across North America within years.

Recent earnings paint an optimistic picture. Organic sales rose 0.6% year-over-year in Q3, international revenue climbed 7.3%, and net losses narrowed. The refranchising strategy for international markets shows management is serious about profitability. This narrative open the door meme-like moves once the turnaround narrative gains traction.

The Bottom Line for 2026

Not every meme stock implodes after its moment. CVNA, RIVN, and DNUT all carry real operational catalysts heading into 2026. Data-driven investors are watching these three closely.