Shares of Krispy Kreme Inc., which recently got caught up in a meme-stock wave, were tumbling Thursday, after the doughnut maker swung to a wider-than-expected loss in the latest quarter. The company’s stock dropped 11.

Krispy Kreme (DNUT) faces revenue decline, profitability challenges, and share volatility. Discover insights on its turnaround strategy and consumer trends.

There isn't any business-specific news driving Krispy Kreme's valuation lower today, but the pullback comes on the heels of big valuation gains that were also disconnected from the company's fundamentals and outlook. Krispy Kreme gained attention as a meme stock trade earlier this month, but that momentum has been fading in recent trading.