Fortune 500 retailer Kohl’s gets meme stock treatment
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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 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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Why Is Kohl's (KSS) Stock Rocketing Higher Today
Shares 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,
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.
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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.
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.