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yesterday

Kohl’s Stock Climbs 38% as Retail Traders Fuel Latest Meme Rally

Coordinated social-media buying drove a short squeeze in the retailer’s heavily shorted shares despite no fresh corporate developments.

FILE - The Krispy Kreme logo appears above its trading post on the floor of the New York Stock Exchange, Monday, May 9, 2016. (AP Photo/Richard Drew, File)
In this photo illustration, the logo of Kohl's Corporation is displayed on a smartphone screen, with a stock market chart of the company in the background.
Image
People walk outside of the New York Stock Exchange on July 23, 2025.

Overview

  • Kohl’s shares closed 38% higher on July 23 after the New York Stock Exchange imposed a volatility halt during a rapid early surge.
  • Retail traders on forums like Reddit’s WallStreetBets targeted Kohl’s roughly 49% short float to force short sellers to cover positions.
  • The rally unfolded without any new business news and Kohl’s continues to grapple with declining same-store sales under interim CEO Michael Bender.
  • Opendoor Technologies, another meme-stock favorite earlier this week, reversed course and fell 10% as its flow-driven momentum waned.
  • Citadel Securities reports retail clients have been net buyers for 18 straight sessions, reflecting bullish sentiment that analysts warn could unwind suddenly.