FRG - Why Kohl's Stock Crashed and Burned on Friday
Shares of Kohl's (NYSE: KSS) flamed out on Friday, falling as much as 22.5%. As of 2:05 p.m. ET, the stock was still down 16.9%.
The catalyst that sent the retailer plunging was the company's decision to end buyout talks without a deal.
Kohl's is one of a number of brick-and-mortar retailers that have struggled in recent years, as the ease and convenience of digital retail siphoned shoppers away from physical locations. Many investors had hoped that talks between Kohl's and Franchise Group (NASDAQ: FRG) would result in the retailer being bought out.
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Why Kohl's Stock Crashed and Burned on Friday