Why These Icon Meme Stocks Could Reshape Your Portfolio in 2026

The meme stock phenomenon continues to capture investor attention, though not all speculative plays end in disaster. While GameStop’s dramatic 2021 rally demonstrates how quickly fortunes shift in this space, emerging evidence suggests certain meme stocks possess underlying fundamentals worth examining. Recent rallies and expert endorsements point to a new generation of meme icons potentially outperforming traditional market indices.

Carvana (CVNA): From Meme Darling to Operational Success

Carvana defies the typical meme stock narrative of inevitable collapse. The online used-car retailer has surged more than 60% year-to-date, demonstrating that speculative interest can align with genuine business momentum. Needham analyst Chris Pierce highlighted the company’s substantial investments in physical infrastructure and proprietary technology, creating defensible competitive advantages. His $500 price target reflects confidence in Carvana’s execution.

The numbers validate this optimism. Third-quarter revenue jumped 55% year-over-year, while net income nearly doubled. Carvana crossed the $20 billion revenue run rate milestone for the first time, selling approximately 156,000 vehicles—a 44% annual increase. This operational scaling separates icon meme stocks with substance from those destined for obscurity.

Rivian Automotive (RIVN): Electric Vehicles Meet AI Opportunity

Rivian represents a different breed of meme stock candidate—a company oscillating between wild volatility and genuine technological advancement. Despite extreme price swings throughout 2025, RIVN ended the year up over 10%, capturing investor imagination while pursuing legitimate business goals.

Ivan Feinseth, chief investment officer at Tigress Financial Partners, emphasizes Rivian’s artificial intelligence investments as a catalyst for revenue expansion. His $25 price target reflects expectations that software enhancements, AI-powered safety features, and hands-off driving capabilities will command premium valuations. As autonomous vehicle adoption progresses—with Waymo already operating on active highways—Rivian’s self-driving roadmap positions it within a massive long-term growth trajectory still in developmental stages.

Krispy Kreme (DNUT): Recovery Play Among Meme Stocks

Krispy Kreme’s 50% decline from 2025 peaks initially appeared to validate meme stock skepticism. However, Bank of America senior analyst Sara Senatore recently reiterated a “Buy” rating, arguing DNUT’s double-digit revenue and earnings growth should command valuation premiums. Her thesis centers on expansion potential, with Krispy Kreme targeting growth from 3,750 current locations to 8,000 access points across North America within years.

Q3 earnings showed tangible recovery signals. Organic sales increased 0.6% year-over-year while international revenue rose 7.3%, with net losses narrowing. The company’s refranchising strategy for international markets promises accelerated sales growth, potentially reigniting investor interest in this historically volatile icon.

The Changing Meme Stock Landscape

The 2026 outlook for meme stocks reflects market maturation. Unlike the speculative frenzy of 2021, when Beyond Meat skyrocketed from $0.50 to $7 per share only to collapse back toward $1, today’s meme stock ecosystem increasingly separates wheat from chaff. Investors pursuing outperformance must distinguish between genuine operational progress and pure social media momentum.

These three companies share a common thread: expanding their competitive moats through capital deployment, demonstrating real revenue acceleration, and attracting institutional analyst support. While meme stocks inherently carry elevated risk profiles, evidence suggests certain icons within this category warrant serious portfolio consideration for 2026.