Fortune 500 retailer Kohl’s gets meme stock treatment
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A key reason why Kohl's Corp. stock received the attention it has this week, has been because of the number of shares bet against the company.
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.
It all started on social media. I saw it on Reddit’s Wall Street Bets section, it’s time to buy the stock of Kohl’s.
Shares of Kohl's ( KSS 36.04%) were soaring today after the ailing department store chain became the latest stock to get the meme treatment, following in the footsteps of Opendoor Technologies ' meteoric rise in recent weeks.
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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Kohl's stock price nearly doubled overnight, surging from $10.42 to $19.53 per share. Online forums, including Reddit's Wall Street Bets, are believed to be contributing to the increased trading activity. Kohl's Chief Marketing Officer, Christie Raymond ...
The Score is a weekly review of the biggest stock moves and the news that drove them. Here are the six in focus this week:
Meme-stock mania might be back, but old heads may have noticed that the moves this time around are lacking a certain explosiveness.