declared Chapter 11 Bankruptcy,
took traders on a wild ride today.
The stock rose 113% intra-day to near .70, before falling 43 %
to close at .40, still up 29 % today.
There are some die hard believers in Sears
who are thinking that the brand name is so strong in the 125 year old retailer,
that it will somehow survive bankruptcy, and emerge a much leaner but survivable company.
Who knows, maybe some American's will feel a sense of historic preservation, and may want to shop at Sears again.
I am one of those believers as well, but I know I may be dead wrong.
Chairman Lambert told over 10,000 employees today, that there must be "material" changes
shown to lenders by Dec.31,2018, or the company will be liquidated, and all remaining stores closed.
Will Sears Survive Bankruptcy...?
For anyone following this post,
Sear's Holding's ( SHLD) closed up 57 %
on 10/17/18 to .63
A move above .70 in SHLD
could break the stock out to $1.00-$1.10 !
Speculative penny stock and risky play, so position size accordingly.
The stock is up a over 100 %,
since bankruptcy announcement on 10/15/18, when it closed at .31
Thank you , for your well informed feedback.
I appreciate your clear perspective.