Steve Quirk, Robinhood chief brokerage officer, joins 'Squawk Box' to discuss the resurgence in meme stocks, meme stock trading trends, and more.

By now most people, even those vaguely tuned into finances, have heard the phrase "meme stock." But if you're just catching up, here are some basics.

Conventional wisdom is out the door for some surging stocks as online hordes are bringing back meme stock mania.

Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest beaten down companies to see a share price revival are Krispy Kreme, GoPro and Beyond Meat.

WallStreetBets, the infamous subreddit credited with helping to spawn the meme-stock phenomenon, is giving its regular readers a taste of what it was like during the trend’s heyday in early 2021.

Small investors piled into Kohl's Tuesday and sent shares flying upwards as the department store retailer became the latest business caught up in a stock market frenzy.

During the company's most recent quarterly call with investors and analysts, Kohl's reported a 4.1% sales decrease, continuing a streak of quarterly sales decreases that has started more than two years ago. The company is also expecting a net sales decrease between 5% and 7%.

Shares of Kohl’s Corp briefly doubled in value on Tuesday, as retail traders piled into the U.S. department store chain’s stocks and options, making it one of the most actively traded stocks on retail trading platforms.

Meme stocks are typically those that see significant jumps in trading volumes and stock prices, driven by a mix of social media hype, short squeezes, and technical breakouts, despite little to no change in the underlying business fundamentals.