We recently published 11 Stocks That Jim Cramer Recently Talked About. Kohl’s Corporation is one of the stocks Jim Cramer recently discussed.
Kohl’s Corporation is one of the most well-known retailers in America. It is also a frequent feature of Cramer’s morning show, with the CNBC TV host initially criticizing the firm and then taking a lighter tone. This time, he commented on Kohl’s Corporation’s share price performance during the recent resurgence of social-media-driven bets termed as the ‘meme stock’ mania:
“I didn’t have Kohl’s. Which looks to be a meme stock. It’s up very big. . . .they had news, the quarter was just okay. Just okay.
[on whether the quarter would justify a 100% move in the stock] Absolutely not. [There’s a] Very big short position. And there’s a Reddit section that is very excited about it. This is the new world, David.”
“Kohl’s did not blow up. I mean Kohl’s is, got new management. Kohl’s is doing okay. I just think that what matters is that, this is in control of a group of people who are motivated. It’s a short squeeze.”
“I look at Kohl’s and I think, look it’s not going to die. I mean I think it’s got, the last quarter was good. But at the same time, they decided to gut it, I mean Goldman raised the price from five to seven.
“If Kohl’s had any horses, it would very quickly chin up a secondary. I don’t know whether Michael Bender understands this. He’s the interim CEO. But that’s what he should do. He should use this to raise cap.
Top 20 Brands Among Gen Z in the US by Mindshare
“But I just look at Kohl’s and I think, look a few minutes ago before this day started, they were looking bad. They’re now looking great. They do have a lot of borrowing. I mean this is not a clean balance sheet by any means. Not at all.
“Yeah they got Sephora. But they have six billion in debt. And they have a chance to just, to take advantage of it. David it would be advantageous if they take enough money to cut that debt to say to five billion.”
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
This article is originally published at Insider Monkey.
