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Kohl's Corp (NYSE: KSS) has suddenly found itself at the centre of a financial firestorm – and famed investor Jim Cramer is sounding the alarm – for short sellers.
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.
Over the past several days, the share prices of three companies have surged 25% or more in a single trading session. Those companies are Krispy Kreme, GoPro, and Kohl's.
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.
Welcome back to meme retail share time, as department store retailer Kohl's meme stock became the latest unlikely name to unexpectedly and suddenly surge Tuesday.
Reddit day traders have been piling into heavily-shorted stocks lately, in a rehash of 2021's GameStop craze.
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.