After Settling Fears About Liquidity, Sears Skyrockets
Looks like a lot of shorts are feeling the burn of a squeeze this morning as SHLD is up over 20% intraday. Reuters reported that Sears Holdings still has “substantial liquidity and strong assets” despite their obvious need to improve their operating performance and location strategy. However the retail chain is expected to generate $270 million in assets from real estate deals and another $400 to $500 million from rights offerings. From Reuters: “The rights will entitle stockholders to purchase shares in the combined Sears Hometown and Outlet Stores businesses and certain hardware stores and will be transferred to holders … Read more