I agree. So I checked Sear's stock price to see what kind of hit it's taking today. The stock is UP around 6% as of my post. Crazy.
I think that this was because of the short term chance to get 50 cents on the dollar instead of 30.
Yup. I looked and this is a stock that before the Soros/Obama Depression was at 140 a share.
At the end of 08 when Obama was elected, it was at 26.
During the Obama “Recovery and Depression” it has been as low as 8 excepting the one spike to 88 in early 2010.
This past year it has been in a steady fall from 17 down to 8. Its minor moves now are the death rattles of a sell off.
Not crazy, just the result of a common confusion, which is, by the way, destroying the nation.
There is the economy, where people, mostly men, invent things, extract resources, build stuff, make stuff, sell the stuff they make to shoppers who need stuff, and so on. Craftsman tools are a paradigm of the operation of the economy. The economy is doing well when everybody has a job doing things that everybody else benefits from or finds useful. You may have noticed that the economy has been shit for fifty years or so.
Then there is the "economy". Unlike the economy, the "economy" involves moving papers around, devising new and ingenious ways to issue simulated money and profit thereby, devising novel ways to distribute useless things that cost people hard-earned money, stimulate degeneracy and perversion, and in general deconstruct almost everything that is of value to people. The "economy" is booming.
So, in the case of Sears, their cash position is improved by stopping doing the only remaining thing of value they do. Perhaps they will use the money to invest in a cable channel.
The market never make sense. The Market Makers know they can sucker people into buying small shares and cover their winnings.
Fact is, Sears hasn’t had anything but AA executives for more than 10 years and they have wound down the company.
Koddak, Jeppesen, Sears, et al., have failed to make the digital transformation required.
I worked with Sears Wishbook years back in the 1990’s when they were told of the Amazon model long before Amazon was even created. They walked away from it. Walked away. They had idiots that wanted “a customer service experience” instead of “get money, deliver product”.