The broader meme stock rally is showing signs of fizzling, while GameStop and AMC continue to gain.

• GameStop and AMC log smaller gains on Wednesday.
• BlackBerry shares were flat and Koss edged lower.
• On Monday, the meme stock craze experienced a revival, apparently sparked by a social media post from "Roaring Kitty."

On Wednesday, Blackberry and Koss shares logged further gains, but the broader meme stock trading frenzy began to fizzle early on its third day, with both stocks remaining flat or edging lower.

At 07:08 a.m. E.T., GameStop increased by 6.2%, while AMC saw a growth of 3.8%.

At 07:08 a.m. E.T., the shares of a one-time popular smartphone maker moved 0.58% lower, while headphones manufacturer fell 6.83%. Other "meme stocks" were also mixed in early market trading.

On Monday, the meme stock craze experienced a resurgence, apparently fueled by a rare social media update from "Roaring Kitty." The man, whose real name is Keith Gill, posted a photo on the X social media platform of a video gamer sitting forward on their chair - a meme used by gamers to show they are taking the game seriously.

Gill, who goes by the username DeepF------Value on Reddit, was a former marketer for Massachusetts Mutual Life Insurance and led a group of day traders in investing in GameStop in 2021.

On Monday, GameStop and AMC shares experienced a 70% increase in value due to the resurgence of the meme stock phenomenon. However, by the end of the session, the enthusiasm seemed to wane.

On Tuesday, Cole Smead, CEO of Smead Capital Management, described the meme stock craze as "stupid" while speaking on CNBC's "Street Signs Europe."

"It is gambling," he said.

— CNBC's Yun Li contributed to this report.