Kohl, Meme and Soar
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The latest so-called meme stocks are the department store Kohl’s, which has surged this week, and the online-based real estate company Opendoor Technologies, which has skyrocketed this month. Both companies have been struggling in their respective sectors.
Kohl's and Krispy Kreme have been subject of online chatter, including on WallStreetBets, about their potential. Rocket Companies is up 6%.
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Why Is Kohl's (KSS) Stock Rocketing Higher TodayShares of department store chain Kohl’s (NYSE:KSS) jumped 35.5% in the morning session as the company exhibited the classic hallmarks of a meme stock. It became apparent that, despite a lack of corporate announcements or major stock ratings,
Few people would have picked Kohl’s stock as a candidate for a double. Thanks to a “gamma squeeze,” it became the latest meme-trade darling to gain more than 100% in a single day.
Shares in the retailer jumped 38% as investors discussed whether it was the next meme stock. The heavily-shorted shares are still down nearly 30% over the past year. Target (TGT) s
A-list actress Sydney Sweeney appears to be driving hopes among the retail crowd that her fall campaign for the retailer boost its sagging shares.