Resistance is futile. Kenmore will be assimilated into ESL investments. Whether the other shareholders like it or not. No choice in the matter. Eddie won. Game over.
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$1.45 as of 2:05 pm CDT. Either bankruptcy, a reverse stock split, or both are bound to happen within the next few months.
If you are working at Sears, see if your store is closing next Thursday. If so, get severance and start looking for a new job. If it isn't just get a new job, Sears is nearing death by day.
Love him or hate him, Eddie is a brilliant financial guy. Look at him dilute the stock to get Kenmore and have complete control. He will not take it private because he already has most of what he wanted out of SHC. One more piece of the pie (kenmore) and a few more pieces of real estate and everyone is unemployeed.
I think Eddie is going on a witch hunt now to find out, who leaked this information.
And the remaining vestiges of the corporate cheerleaders grows eerily silent.
Market Summary > Sears Holdings Corp NASDAQ: SHLD 1.46 USD −0.13 (8.18%) down; Aug 16, 10:26 AM EDT
It's happening!
@UFuNwnW-1ltz: He doesn't have enough to have a complete controlling interest to force the sale of Kenmore to ESL investments at a price of his own choosing. That's why he needs to dilute the stock and decrease the other shareholders' ownership.
@UFuNwnW-fpr Wasn't that the case already though? Since he owned most of the stock anyway (not sure how the hell that happened) and that's why this company is going to be f---ed soon?
The market is now reacting to Eddie's plan to dilute the stock - NASDAQ: SHLD
1.50 USD −0.090 (5.66%) down; Aug 16, 10:06 AM EDT
@UFuNwnW-zqz: You're right. His statement that selling more stock would reduce debt and alleviate liquidity challenges is a lie. He's out to get full control. The Board of Directors will be utterly helpless to stop Eddie from doing what he wants.
@UFuNwnW-tgt Holy I just saw $1.59 man this is dropping like a damn brick I wonder how many people bought it when it went under $2 and thought they could recover some. Even buying at $1.80 makes you lose some $$$.
Someone mentioned that the same thing happened in Sears Canada so why wouldn't it happen here right?
It seems maybe this is what it is coming to the final stages so basically Eddie will have full control get what he wants and call it quits. Man this man has no heart at all for what hes doing lol.
@UFuNwnW-zqz: He could theoretically force the sale of Kenmore and no one can stop him.
@UFuNwnW-rgc: Eddie could buy up the new issues of SHLD stock and then the existing shareholders' ownership would diminish significantly. Thus, Eddie would have complete autonomous control of Sears Holdings and basically everyone, and I do mean everyone, would be at his mercy.
I think it's down to $1.59 now, I think their market cap dropped too.
Same pattern as Sears Canada.
How would dilution help Eddie?
Eddie wants SHLD to sell new issues of stock. The word is out - he is diluting the stock.