US stocks fluctuate | The latest "meme stock" is out! Kohl's Department Store (KSS.US) experienced a surge of nearly 90% at one point

According to the Wise Finance APP, on Tuesday, Kohl's (KSS.US) saw a surge of nearly 90%, with trading volume skyrocketing, becoming the latest "meme stock" hyped by Reddit retail investors. As of the time of writing, the stock had risen over 37% to $14.32. Kohl's currently has approximately 53 million shares shorted, accounting for 49% of its 112 million outstanding shares. With such a high short interest ratio, the stock has become an ideal target for short covering. Market analysis generally believes that this surge is driven by retail investors on the Reddit forum, somewhat similar to the trend of "meme stocks" such as GameStop (GME.US) and AMC Theaters (AMC.US) in the past. Under the push of concentrated retail buying, shorts are forced to cover their positions, further driving up the stock price and creating a "short squeeze effect," leading to a rapid increase in the stock price in the short term.