Investors breathe life into new batch of meme stocks as Kohl’s and Opendoor Technologies surge
By DAMIAN J. TROISE
NEW YORK (AP) — As the stock market pushes into record territory and bargains become harder to find, investors are once again turning to some of Wall Street’s beaten down companies in hopes of a quick score.
Related Articles
-
Magnificent Queen Anne Victorian on Orlando’s Honeymoon Row hits the market -
With delay until 2026, Boeing Starliner next flight may not carry humans, NASA says -
In-N-Out Burger CEO to join the list of high-profile business figures to leave California -
What’s happening with forgiveness for student loans on income-based repayment plans? -
Long-conservative Seminole votes to raise taxes for first time in 16 years
The latest so-called meme stocks are the department store Kohl’s, which has surged this week, and the online-based real estate company Opendoor Technologies, which has skyrocketed this month. Both companies have been struggling in their respective sectors.
Wall Street defines a meme stock as a stock that gains significant popularity and trading volume, primarily driven by social media hype and online communities, rather than the company’s fundamental financial performance. Think GameStop and AMC Entertainment in 2021, and a few subsequent instances.