Kohl's Shares Skyrocket Amidst Short Squeeze

In an unexpected turn of events, Kohl's Corporation witnessed its shares surge by an astonishing 31% this Tuesday. This remarkable uptick is attributed to a potent short squeeze coupled with a surge in interest from retail investors, marking one of the stock's most significant gains in recent memory.

The Day's Trading Highlights

The stock commenced trading at $9.68, swiftly ascending to an intraday peak of $21.39. This dramatic rise is underpinned by data revealing that close to 50% of Kohl's public float is sold short, placing it among the most heavily shorted stocks in the U.S. market.

By 10:30 am ET, the shares had adjusted to $13.88, still showcasing a substantial 32.82% increase from the previous close.