Kohl's has faced tepid sales growth as it struggles to attract budget-conscious shoppers still hurting from elevated inflation. In May the retail chain, which has roughly 1,100 stores around the U.S., reported a fiscal first-quarter loss of $15 million and that net sales fell more than 4% from the year-ago period.

Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest meme stocks are Kohl’s and Opendoor Technologies, two companies with struggling businesses.

Kohl’s stock more than doubled at its intraday peak Tuesday, then pulled back, a day after Opendoor shares did the same.