Stock Movements to Watch Today: WallStreetBets Highlights Kohl's

Investor attention has honed in on several companies today, including Kohl's, Krispy Kreme, Rocket Companies, Lockheed Martin, and NIO.

Here's a look at how these companies were performing in premarket trading as of 7 a.m. ET Wednesday, and the factors influencing their stock movements.

Kohl's Surge

Shares of the major retail chain, Kohl's, decreased marginally by 0.4% to $14.29, following an impressive 38% increase by market close on the previous day.

The remarkable leap in its stock value was largely spurred by discussions on the WallStreetBets Reddit page, focusing on the high short interest in Kohl's shares. This prompted retail investors to heavily invest in Kohl's.

Interest in Krispy Kreme

Krispy Kreme saw its stock price climb nearly 20% to $4.96 per share, marking an overall weekly rise exceeding 50%.

Engagement on platforms including Reddit and X about a possible short squeeze has piqued investor curiosity, even though Krispy Kreme's latest earnings report pointed to a 15% decrease in revenue compared to the previous year.

Rocket Companies on the Rise

Rocket Companies experienced a more than 6% jump to $17.07 per share after already rising about 6% on the day prior.

This financial service company based in Detroit is preparing to reveal its second-quarter results soon. Market analysts anticipate a boost in its earnings, thanks to the recent completion of its acquisition of Redfin.

Lockheed Martin's Financial Update

Shares of the defense and aerospace giant, Lockheed Martin, notched a nearly 1% increase to $414.05, following an 11% drop the previous day.

The downturn in its profits—an 80% decrease in the previous quarter—largely stemmed from $1.6 billion in pretax charges linked to a confidential defense project.

NIO's New Development

Shanghai-based electric vehicle manufacturer NIO saw its stock climb by 4% to $5.20 per share, buoyed by an earlier 11% surge.

The uptick in share price followed the company allowing potential buyers in China to test drive its latest SUV, ahead of its official market launch at the end of July.