Kohl's has faced tepid sales growth as it struggles to attract budget-conscious shoppers still hurting from elevated inflation. In May the retail chain, which has roughly 1,100 stores around the U.S., reported a fiscal first-quarter loss of $15 million and that net sales fell more than 4% from the year-ago period.

Kohl’s Corp. shares posted a record one-day gain Tuesday, minting it as the newest meme stock, amid an influx of mentions by retail traders on social media.

Conventional wisdom is out the door for some surging stocks as online hordes are bringing back meme stock mania.