Shares of Kohl’s surged on Tuesday, leading to a temporary halt in trading due to volatility. Chatter on Reddit’s Wall Street Bets has picked up recently about Kohl’s because of the stock’s high short interest and its name recognition among retail investors. The legacy department store’s stock more than doubled in early trading and by late morning, trading volume was nearly 17 times higher than the 30 day average. A Kohl’s store in Pleasant Hill, California, on Nov. 25, 2024. Bloomberg | Bloomberg | Getty Images
Shares of Kohl’s surged on Tuesday morning in volatile trading that echoed the meme stock rallies of recent years.
The legacy department store’s stock more than doubled from Monday’s close of $10.42 per share, only to see those gains wiped out about a half an hour after markets opened. Trading in