Sears Holdings Corporation (NASDAQ: SHLD) is continuing to trade higher, despite a poor job of management and despite the notion that reality may get in the way of rumors. There remains an ongoing wave of hope that an Eddie Lampert-led buyout with private equity backing is going to come. Another driving force is the talk that CIT Group Inc. (NYSE: CIT) is going to start allowing retail and apparel suppliers to begin approving Sears orders again for financing if Women’s Wear Daily has its story accurate.
Shares are up more than 4% at $41.10 so far this Thursday. Investors need to keep in mind that this dog of a stock is up over 20% this week and its share price close for 2011 was $31.78 and its lowest close since then was $29.20 on January 6.
Another consideration we would lie to remind holders and speculators about is that Eddie Lampert or any other buyer would not have to just pay a premium. They would have to pay a mega-premium. Otherwise these officers could all be sued for intentionally running the results lower just so that they could acquire it and take it public at basement prices.
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