Kohl's, Soar and meme stocks
Digest more
Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
Shares of apparel retailer Kohl's soared on Tuesday as retail investors piled into the heavily shorted stock in a replay of the meme stock mania that shook the stock market in 2021.
Doughnut chain Krispy Kreme jumped 16.1%, building on a near 27% surge on Tuesday. About 14% of Krispy Kreme's outstanding shares available for trading are shorted, according to data compiled by LSEG. Camera maker GoPro also surged about 47% to $2.01. Short interest on the stock was last at 7.7%.
Kohl’s came into July with 53 million shares shorted, or about 47% of shares outstanding, according to FactSet. That’s extremely high, considering that short interest for the SPDR S&P 500 Trust exchange-traded fund sits at 11%. It doesn’t require being Albert Einstein to suggest that Kohl’s stock is seeing a short-squeeze.
Republicans repurposed a Coldplay meme to target Delaware Democrats for supporting offshore wind as the state develops projects near beaches despite Sussex County opposition.
Explore more
The ticker $OPEN has been heavily cited on WallStreetBets, the online forum behind the infamous GameStop mania in 2021.
President cast as all-American avenger, threatening vengeance against unspecified enemies and suggesting he has neither forgiven nor forgotten his recent legal troubles
Trendy and fun. That's how Nebraska football coach Matt Rhule described his new recruiting persona that has featured a bull and a $900,000 tractor