GameStop shares are missing the latest bout of meme-stock trading. They were little changed in early Friday trading, and have posted only modest gains over the past two weeks, even though renewed meme-stock mania has triggered a series of enormous surges and declines on Wall Street.

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

Investor enthusiasm faded for the latest meme stocks on Wednesday, with shares in heavily shorted Krispy Kreme and GoPro closing well below their session highs, while Tuesday's investor darling - department store Kohl's - finished sharply lower.