On Monday, November 25, 2024, Placent Hill, California, a Kohal’s store in the US. Kohl’s Corp is expected to release income figures on 26 November.
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Share of Kohal On Tuesday morning, unstable trade increased, which resonated meme stock rallies of recent years.
The stock of the Legacy Department Store doubled from close to $ 10.42 per share on Monday, only to see the benefits that disappeared about half an hour after the opening of the markets. Trading in stock was temporarily stopped at a point on Tuesday morning.
Nevertheless, the stocks were trading more than 30% from ET at around 11:30 pm. Stock is at speed for its best day since January 24, 2022, when shares received 36% after Kohl’s reception Acquisition proposal Private equity firm Sycamore from partners.
Meanwhile, the trading volume was about 17 times more than the average in the last 30 days on Tuesday morning.
There were no clear corporate announcements or major stock ratings to increase shares on Tuesday, but Kohl has all the signs of a meme stock. According to the factset, it is a Legacy Department Store, with many retail investors shop, and it is very low, with about 50% of the share arrears selling less.
It has a huge retail footprint of more than 1,100 stores and has been the subject of acquisition proposal, activist campaigns and bankruptcy in recent years.
Wall Street Bates Forum has recently been chatted around Kohl’s stock redditWhich became popular during Gamestop Short squeeze in 2021. Some described it as a potential squeeze candidate, which considering the small interest and its name recognition among retail investors.
When investors come in a heavy small stock, people with small positions can buy more to cover their losses, which can drive the price more.
Beyond the price of his share, Kohl’s business has been struggling for many years. Its sale is falling, it is facing increasing competition and it is currently led by an interim CEO after its former CEO. Ashley Buchanan was excluded On the conflict of interest.
In May, Kohl said that it is expected that the financial 2025 sales in 2025 with a decline between 5% and 7%, with comparable sales between 4% and 6%.
