Kohl's (NYSE: KSS) saw an unprecedented volume spike to 208 million shares traded versus a 12 million daily average, triggering a rapid short squeeze and subsequent crash.
Retail traders briefly pumped up the retailer's heavily shorted shares. A sustained rally will depend on fixing its flagging business.
The meme-stock frenzy is back this summer, with some new names drawing traders' attention.
After years of struggling with post-pandemic normalization, supply chain issues, consumer headwinds, and competition in the retail sector, it appears that the bottom is in for Kohl's NYSE: KSS stock. The stock price surged more than 40% in a single day, confirming support at long-term lows coinciding with the 2020 sell-off.
Yesterday, shares of medium-sized retailer Kohl's Corp. (NYSE: KSS) rose over 100% at the open to over $21.
Kohl's shares rose 2% before the opening bell after a 38% surge on Tuesday. Increased Reddit chatter about Kohl's high short interest fueled the stock's rise.
Kohl's (KSS) saw its shares surge in the last session with trading volume being higher than average. The latest trend in earnings estimate revisions may not translate into further price increase in the near term.
'Mad Money' host Jim Cramer recaps the surge in retailer Kohl's today.
'Mad Money' host Jim Cramer recaps the surge in retailer Kohl's today.
Kohl's stock jumped Tuesday (July 22) as traders talked the retailer up on social media. The company's shares rose by as much as 105% when the equity market opened, Bloomberg News reported.
Shares of Kohl's Corporation (NYSE:KSS) more than doubled in value on Tuesday in a stunning rally fueled by retail investor enthusiasm, surging short interest, and frenzied options trading despite no apparent news from the US department store chain. The stock jumped as much as 105% in premarket trading before opening up 87%.
Heavy trading in Kohl's brough back memories of a 'meme-stock' rally from 2021 in highly shorted retail favorites such as GameStop and AMC Entertainment.