Kohl’s Corporation (NYSE: KSS)
Kohl’s Corporation is having a pretty strong day in the market today. When the trading session started for the day, the stock was already trading slightly in the green. From there, we’ve seen mostly upward movement. Then, things went from good to great as the stock started spiking upward. Below, we’ll talk about what we’re seeing from KSS, why, and what we’ll be watching for ahead.
What We’re Seeing From KSS
As mentioned above, Kohl’s Corporation is having a good day in the market so far. When the opening bell rang, the stock was already trading slightly green. Since then, we’ve seen a continuation of steady upward movement. That is, until minutes ago when the stock started on a spike upward. At the moment (11:36), KSS is trading at $40.68 per share after a gain of $0.90 per share or 2.26% thus far today.
Why The Stock Is Headed Up
As is nearly always the case, our partners at Trade Ideas were the first to alert us of the gains on KSS. As soon as we received the alert, the CNA Finance team started digging to see why the stock was heading upward. It didn’t take long to dig up the story. Ultimately, the gains are the result of a rumor.
At the moment, there’s a rumor circling Kohl’s Corporation all over social media. That rumor is that the company is considering taking itself private. Of course, if this happens, it would return strong value to shareholders. However, it’s important to keep in mind that at the moment, this is nothing more than a rumor.
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will be watching KSS incredibly closely. In particular, we’re interested in seeing whether or not there is any validity to the rumors hitting the wire at the moment. We’ll be calling the company shortly and updating you with any news we see or hear as it breaks! Stay tuned!
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