The market saw a fresh meme stock frenzy this week. While high exuberance can be a contrarian sell signal, sources say the market is still in good shape.

Memesters took the likes of Kohl’s and Krispy Kreme on a wild ride.

Social media buzzed with excitement on Monday as some beaten-down stocks that retail traders have been buying began to soar. Kohl's, Opendoor Technologies, Krispy Kreme and Rocket Cos. were among the names that posted outsized swings throughout the week.