Welcome to Seeking Alpha's Wall Street Lunch, our afternoon update on today's market action, news, and analysis.

Good afternoon. Today is Wednesday, July 23rd, and I'm your host, Kim Kahn.

Our top story so far. Just when you thought it was safe to get back in the market, Mean 2.

While we're not yet at the stage of clearing the

beaches and hiring Quint, there are definite sightings of mean stocks circling. While trading has

ensued for this group of speculative names, with some new players being flagged on social media,

like Open Door Technologies, QuantumScape, Krispy Cream, GoPro, and beyond meat. While Open Door was changing hands at only

50 cents at the beginning of the month, it has since soared over 460% to above the $3

level before taking a turn south. The digital real estate stock tumbled 10% in a volatile

session on Tuesday and is down another 20% today. Seeking Alpha analyst Julia Ostian says,

the company remains highly leveraged, unprofitable, and exposed to real estate market risks,

despite operational progress and cost controls. Upcoming earnings on August 5th could fuel further

volatility. A strong report may trigger another rally, while disappointment could crash the stock.

Department Store stalwart Coles is also trading like a meme name.

The stock is sliding the day after it surged 38% on volume that was 20 times a normal activity.

The trading frenzy sent the highly shorted stock to its highest level of 2025.

It has been building from its lows and people started

promoting it online, Morningstar analyst David Schwartz said about the day trading action. They're

buying it because other people are buying and they think they can start a short squeeze and that's

what's happening. Among active stocks today, AT&T reported a marginal Q2 profit beat, topped revenue

estimates by a decent margin, and met expectations

for key subscriber metrics except fiber net additions.

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