NEW YORK (AP) — Investors are again turning to meme stocks in the hopes of scoring quick gains. The latest meme stocks are Kohl’s and Opendoor Technologies, two companies with struggling businesses. Kohl’s shares have surged nearly 50% this week even though the company has endured weak sales and frequent leadership changes. The department store faces stiff competition, as well as challenges from tariffs and reduced spending by middle-income shoppers. Meanwhile, Opendoor shares have skyrocketed this month, boosted by hedge fund interest. The real estate company, which flips homes, remains unprofitable and faces a tough housing market with high interest rates and low inventory.
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