Kohl, stock and meme-trade
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Small investors piled into Kohl's Tuesday and sent shares flying upwards as the department store retailer became the latest business caught up in a stock market frenzy.
1don MSN
During the company's most recent quarterly call with investors and analysts, Kohl's reported a 4.1% sales decrease, continuing a streak of quarterly sales decreases that has started more than two years ago. The company is also expecting a net sales decrease between 5% and 7%.
Huge interest in the Menomonee Falls-based retailer's stock drove so many trades July 22 that trading was briefly suspended. The rally came after online forums talked up shares in the retailer, which has suffered from sales slumps and corporate leadership turnover.