You'd think right after a 5.2B sale of sears that the stock would have went up more than 1.80 but that lasted three days, it's already dropping. It will be back to pennies by end of next week. It's awesome, the impending doom will happen eventually and we will all be here eating popcorn watching painstakingly every last moment until it's buried completely forevermore!!
Cheers!
Yawn... Wake me when something good happens...
As the poster said below. Technically there is no SHLDQ stock. Yes. It's listed and you can still play around with it for awhile but there is no SHLD anymore. It's all different now.
OP
The new company is private, which means no stock. The stock is in the old, bankrupt and soon to be liquidated company. The stock will soon be devalued and written off as SHC will eventually be dissolved with all assets now moved to TransformCo. This is why it is dropping. Nothing to do with go forward strategy. The only reason the SHC stock rose was from people briefly taking advantage as the sale became imminent and definitive and these same people subsequently began cashing out.
Technically it was not a $5.2 billion sale; as the majority of the sale was a credit bid. The actual cash received barely covers their DIP loan. It is insufficient to pay off their debts.
Equity isn't worth a nickel (IMO); since shareholders get nothing from the sale; and there is no value left.
It's because the company is worth so much more without all those damn stores.