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Kohl’s Stock Surges 37%, Joins Opendoor in Meme Stock Frenzy
Kohl’s Stock Surges 37%, Joins Opendoor in Meme Stock Frenzy
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BTCCSquare news:
Kohl’s stock skyrocketed 37.7% on Tuesday, propelled by retail traders emulating the meme stock playbook. Shares surged from $10.70 to $21.39 before the NYSE halted trading—a MOVE reminiscent of the GameStop saga. The rally lacked fundamental catalysts, instead fueled by WallStreetBets-style coordination targeting the retailer’s 50% short interest.
GlobalData’s Neil Saunders notes Kohl’s became a prime target due to its household brand recognition among retail investors. The pattern mirrors Opendoor’s trajectory, where social media-driven buying overwhelmed bearish positions. Such volatility underscores the growing influence of decentralized trading collectives in reshaping equity markets.
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