Koss Corp Shares Skyrocket Amid 'Roaring Kitty' Speculations

Shares of headphone maker Koss Corp. surged for the second consecutive session following speculations linked to meme stock influencer Keith Gill, known as 'Roaring Kitty'. The company's stock had traded as high as $18.50 amid social media buzz regarding Gill's interest, despite analysts questioning the fundamental value driving the rally.

Shares of headphone manufacturer Koss Corp. experienced a significant surge for the second consecutive session on Friday, closing at $13.35, after peaking at $18.50 earlier in the day. The jump followed social media speculation linking influencer Keith Gill, also known as 'Roaring Kitty', to an interest in the company.

Social media followers of Gill identified cryptic clues he posted in May, including a microphone against the backdrop of the U.S. flag, which sparked theories on Reddit about his potential involvement with Koss around July 4, the U.S. Independence Day holiday. There were mixed responses, as some speculated purchasing actions while others remained skeptical, noting the absence of headphone imagery.

By Friday afternoon, Koss stock had surged nearly 230% for the week, following a 143.8% increase during Wednesday's trading session. Market strategist Steve Sosnick from Interactive Brokers mentioned no fundamental reasons for such a drastic surge, attributing it to the small public float and massive insider holdings. Despite the buzz, Keith Gill has not publicly commented on Koss, and the company could not be reached for comments.

(With inputs from agencies.)