Watch These Kohl’s Stock Price Levels as Retailer Becomes Latest Meme Play
Key Takeaways
- Kohl’s Corp. shares surged nearly 40% on Tuesday in the absence of news on the retailer, a move reminiscent of the meme stock frenzy of 2021.
- The stock’s jump coincided with huge trading volume, indicating meme-driven trading activity.
- Investors should watch major overhead areas on Kohl’s chart around $29, $45 and $64, while also monitoring a key support level near $11.
Kohl’s Corp. (KSS) shares soared Tuesday in the absence of news on the retailer, a move reminiscent of the meme stock frenzy of 2021.
The shares likely received a boost from a short squeeze, given that nearly half of Kohl’s float is held by short sellers. Tuesday’s trading action echoed the meme-stock rally of four years ago, when Reddit users…
