The department store saw its share price double in early trading, thanks to heightened interest in the stock from online forums.

Kohl's and Krispy Kreme have been subject of online chatter, including on WallStreetBets, about their potential. Rocket Companies is up 6%.

CNBC's Jim Cramer, host of Mad Money, ended his show by issuing some advice to the hedge funds shorting Kohl's: "Cover and move on."

Shares of department store chain Kohl’s (NYSE:KSS) fell 16.4% in the afternoon session after the stock gave back a significant portion of the previous day's massive gains, which were driven by a meme-stock-style trading frenzy.

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