The SHLD stock is now trading around $0.18 (with a low of $0.12-$0.15) with a market cap of 19.12M.
About a month ago, it was trading at $0.40.
I would definitely say that based on the stock price (and lots of other factors) that the end is near!!
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.16 as of Wednesday.
Should also keep in mind that all of this sh-- done non-transparently and done to ESL/Seritage's/his own personal benefit and not Sears' as Chairman of the Board is self-dealing should land him straight in jail if the SEC were paying attention, and he's been pulling c-ap like this for years and years as with the real estate dealings with Seritage that caused Seritage's stock to soar and Sears' stock to crater to the tune of a billion on the same day the transaction occurred.
Eddie definitely had a lot of crazy stuff on. He was acquiring a lot of stock in Sears, and has a lot of stuff in Sears that isn't part of the Bankruptcy, including protection plan stuff in Bermuda that isn't very transparent to US authorities, as well as a lot of very warrants and crazy covenants with his secured positions with his credit bid. There was all that oddball insider stuff with Cyrus too with their 900M of stuff with the default swaps. It all falls now that Judge Drain undid that and also because he's not the stalking horse bidder though.
Old Kmart shares were worthless after the first bankruptcy. I don't see the possibility of this turning out differently. Common stockholders are generally wiped out in bankruptcies. It's a high risk trading vehicle now if you have the stomach for it.
There was a contingent of mo--ns who thought that Eddie had some secret speshul plan to get value in the stock after bankruptcy because Eddie's a genius. They somehow missed what he's done with the stock in the last 13 years. They finally bailed.
Trading on a bankrupt stock is ultra risky, as you would expect. The only way the stock is worth anything is if the company can reemergence from bankruptcy with a positive asset value. The likelihood of reemergence is about totally gone. The creditors will get shafted as well.