Kohl, meme stock
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Beaten-down stocks such as Kohl’s, Krispy Kreme and Opendoor Technologies have taken off recently, as individual investors pile into heavily shorted equities. The stocks’ cult followings and their outsized gains mirror the performance of GameStop and AMC Entertainment during the original pandemic-era meme-stock frenzy.
Meme stocks are back. Jolted by a sudden surge in Opendoor stock last week, a handful of other shares have ripped higher on interest from retail traders.
A key reason why Kohl's Corp. stock received the attention it has this week, has been because of the number of shares bet against the company.
The Score is a weekly review of the biggest stock moves and the news that drove them. Here are the six in focus this week:
Financial markets once again have been seized by meme-stock mania. In mid-July, a frenzied rally erupted around a cohort of beaten-down companies, including Opendoor Technologies Inc., Kohl’s Corp. and Krispy Kreme Inc.
Meme-stock mania might be back, but old heads may have noticed that the moves this time around are lacking a certain explosiveness.