Latest news with #memestock
Yahoo
4 hours ago
- Business
- Yahoo
Kohl's stock soars 37%, joining Opendoor as the latest retail meme craze
The latest entrant to this month's meme stock craze appears to be Kohl's (KSS). Shares of the beleaguered retailer rose 37.7% on Tuesday, with the stock at one point getting halted for trade by the New York Stock Exchange for volatility. In premarket trading, Kohl's stock rose more than 100% at its highs. In a story similar to new meme stock darling Opendoor (OPEN), retail traders piled into the middle-income retailer on Tuesday, pushing a stock that opened around $10.70 in premarket trading to as high as $21.39 before the exchange stepped in. After rising more than 40% on Monday — and more than doubling at its highs of the day — Opendoor stock finished Tuesday down 10.3%. Like Opendoor, Kohl's has had a run of underperformance and seen its stock price consistently fall from a post-pandemic recovery high of around $60 to a 52-week low of $6.04 in April of this year. The latest data shows Kohl's short float sits at 49%, meaning traders have placed considerable bets the company will continue to struggle and its share price will continue to falter. Kohl's stock has garnered significant interest from retail traders, sparking several threads Tuesday morning on the subreddit wallstreetbets, which has at times seen retail traders target heavily shorted stocks to "squeeze" investors out of these positions. Opendoor is also heavily shorted, though its short float stood closer to 21%, according to the latest data available Tuesday. After reporting a 6.7% same-store sales decline for its fiscal fourth quarter in March, Kohl's stock fell 24%. Net sales in the quarter totaled $5.2 billion. Then-CEO Ashley Buchanan announced plans on that earnings call to initiate a broad turnaround that included thinning out its offerings to refocus on core areas like Sephora beauty products and value items for its core customer. But Buchanan, appointed to the top job in January, was removed in May for an ethical breach centered on conflict of interest with a vendor contract, leaving board chair Michael Bender as interim CEO. In late May, the company reported same-store sales fell 4.1% in the first quarter of 2025, with net sales reaching $3 billion. Kohl's expects same-store sales will drop 4%-6% in its fiscal 2025. Jake Conley is a breaking news reporter covering US equities for Yahoo Finance. Follow him on X at @byjakeconley or email him at Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
9 hours ago
- Business
- Yahoo
Why Opendoor Technologies Stock Is Plummeting Today
Key Points Opendoor has become the latest "meme stock," with its rally heavily influenced by retail investor enthusiasm. Despite the recent positive momentum in share price, the company faces substantial financial challenges, including a significant drop in revenue from its 2022 peak and a history of unprofitability. 10 stocks we like better than Opendoor Technologies › Shares of Opendoor Technologies (NASDAQ: OPEN) are falling on Tuesday, down 6% as of 3:03 p.m. ET and dipping as low as 16.8% earlier in the day. The drop comes as the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) were little changed. Opendoor's stock is retreating after its recent monster run. The stock appears to be the latest meme stock, and its ascent has been largely driven by a surge of retail investor activity. The latest meme stock Opendoor Technologies, a technology company that automates the buying and selling of real estate, has become the latest meme stock. Retail investors, especially those from Reddit's Wallstreetbets subreddit, have driven the stock up nearly 440% in the last month. The run started after hedge fund manager Eric Jackson of EMJ Capital publicly announced his firm had taken a position in Opendoor, touting it as a potential "100-bagger" stock. The timing comes at a critical time for Opendoor. The company's stock was trading under $1 and had received a delisting warning from Nasdaq -- companies that can't keep their stock price above $1 risk being kicked off the exchange. Risks remain for Opendoor Despite the enthusiasm, Opendoor has significant financial troubles. The company's top line has plummeted from its height in 2022. The company's current annual run rate is well under a third of its 2022 sales. Opendoor has also never turned a profit and has significant negative cash flow. There are some positive signs as of late, including a quarter-over-quarter uptick in its top and bottom lines from its Q4 2024 to Q1 2025, as well as positive movement in its earnings before taxes, interest, depreciation, and amortization (EBITDA). Its meme status is based on the belief that this momentum can continue, and the company can execute a turnaround. I'm not so sure, and I would avoid the stock, especially after this incredible run. Should you buy stock in Opendoor Technologies right now? Before you buy stock in Opendoor Technologies, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Opendoor Technologies wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $665,092!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,477!* Now, it's worth noting Stock Advisor's total average return is 1,055% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Johnny Rice has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Opendoor Technologies Stock Is Plummeting Today was originally published by The Motley Fool 登入存取你的投資組合
Yahoo
9 hours ago
- Business
- Yahoo
Why Krispy Kreme Rocketed Higher Today
Key Points Meme stock fever appears to have come back into the market over the past couple of days. Meme traders target heavily shorted stocks in hopes of generating a squeeze. The beaten-down Krispy Kreme appears to be a current meme stock favorite. 10 stocks we like better than Krispy Kreme › Shares of doughnut-slinger Krispy Kreme (NASDAQ: DNUT) rocketed 26.7% in Tuesday trading, after the stock appears to have been caught up in a new round of meme stock fever. Meme stocks are beaten-down stocks with a high short interest, which retail investors on message boards such as Reddit target for purchase in hopes of generating a short squeeze. Krispy Kreme, along with several other names, is soaring today as part of a current meme stock cohort, it seems. No news and a 26% gain is a dangerous combination There wasn't any new news to speak of regarding Krispy Kreme. In fact, the most recent news hasn't been good at all. Back in May, the company's first-quarter report was rather dismal, leading the company to cut its dividend and end its partnership with McDonald's, which proved to be unprofitable for Krispy Kreme. The company's debt has grown to $935 million, and the doughnut maker is unprofitable on a generally accepted accounting principles (GAAP) basis in the wake of softer-than-anticipated demand this year. As a result, Krispy Kreme's short interest had increased to 14.2% of shares outstanding, but a higher 26.4% of its publicly traded float, as of June 30. That's a high-enough short interest, especially in a lower-float stock, to cause a big move on a surge of unexpected buying. And it appears meme stock traders happened to target Krispy Kreme today. In addition to Krispy Kreme, it appears beaten-down, scandal-plagued retailer Kohl's (NYSE: KSS) was also a meme trade target, with that stock up 38% on the day as well. Meme stock trading isn't for the faint of heart For those tantalized by the massive gains in a short amount of time, please realize that meme stock trading is highly risky, and that the quick gains of today can fade just as quickly. At the Motley Fool, we preach long-term investing in high-quality companies, a strategy that has shown long-term outperformance without the risks, headaches, and taxes inherent in trying to time volatile short-term trades on lower-quality stocks. So unless you are a meme investor by trade, I'd recommend staying away from Krispy Kreme unless you think a genuine turnaround at the business level is within sight. As of now, that turnaround isn't anywhere to be seen. Should you invest $1,000 in Krispy Kreme right now? Before you buy stock in Krispy Kreme, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Krispy Kreme wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $665,092!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,050,477!* Now, it's worth noting Stock Advisor's total average return is 1,055% — a market-crushing outperformance compared to 180% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Billy Duberstein and/or his clients has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Why Krispy Kreme Rocketed Higher Today was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
11 hours ago
- Business
- Bloomberg
Kohl's Becomes Traders' Latest Meme Darling
Kohl's Corp. shares more than doubled Tuesday, minting it as the newest meme stock, amid an influx of mentions by retail traders on social media. Bloomberg's Norah Mulinda has more on the story. (Source: Bloomberg)
Bloomberg
15 hours ago
- Business
- Bloomberg
Kohl's Skyrockets as It Becomes Latest Meme Stock
Kohl's Corp. shares more than doubled Tuesday, minting it as the newest meme stock, amid an influx of mentions by retail traders on social media. The retailer's stock price soared as much as 105% when the equity market opened, its largest one-day jump ever, bringing it to $21.39, a level last seen nearly a year ago. The shares were briefly halted for volatility after paring their gains and were up about 36% to more than $14 as of 11:13 a.m. in New York. Before Monday, the shares had been trading in the single digits since March 11. 'It's all social media chatter,' said Steve Sosnick of Interactive Brokers. 'Remember that a highlight of the meme stock era was a dose of nostalgia for companies like GameStop and AMC. Social media chatter can become self-fulfilling.' A Kohl's spokesperson didn't immediately respond to a Bloomberg News request for comment. Bloomberg's Mary Ross-Gilbert reports. (Source: Bloomberg)
