SHLD 75 cents at 11:41.
Wall Street doesn't just throw away shares that they bought at a higher price, unless they know or believe something which justifies taking a loss on investment.
7 replies (most recent on top)
They know October 15 is coming and Eddie can’t pay the monsterous debt that hits on that day.
There have been 200,000 + volume shares selling and buying all along. Sometimes it is legit 1 person. Some times trading companies due bulk trades lumped together for multiple clients. Even just volume can be deceiving. But 1 person buying/selling 500 shares can fluctuate the price drastically. But not many Wall Street traders care about this stock. It is not worth the risk or time.
there were a couple of 200,000 share dumps today
You need to look at volume. Stock Price can't tell you much without considering volume. This is mostly small mom and pop traders throwing in a couple thousand dollars here and there. The big volume spikes mean something different.
Wall Street isn't touching this stock with a 10 foot pole for the most part.
Who says wall street throwing away shares... Think about it, at this point in time WHY bother selling if bought at higher prices - its already a LOSS so might as well maximize the LOSS by holding to zero to OFFSET any GAINS in WINNERS - its a tax planning strategy
"Wall Street doesn't just throw away shares that they bought at a higher price"
Nah, it happens all the time. People often panic and think they need to get out with anything while they still can. (And in the case of Sears, they might not be wrong.)
There were two big sell offs right before it dropped. Both over 200k shares.