Sears Holdings Corp SHLD 2.91% was briefly halted Tuesday morning after the stock surged more than 14 percent and triggered its volatility circuit breaker. The large move was driven by a report fromBloomberg that the company is accepting bids for its Craftsman business through the end of October.
The report also claims that Stanley Black & Decker, Inc. SWK 0.48% and China’s Techtronic Industries are among the interested bidders. Offers for Craftsman could reportedly approach $2 billion.
Sears reported back in May that it was “exploring options” regarding Craftsman, but Tuesday’s report provided a bit of clarification for shareholders.
Sears has been one of the worst-performing stocks in the market in recent years. Despite Tuesday’s spike, the stock remains down 37.5 percent in 2016 and down 92.0 percent in the past 10 years. Sears is one of many brick-and-mortar retailers that has failed to find a viable strategy to combat the rise of e-commerce competitors like Amazon.com, Inc. AMZN 0.27%.
In fact, Sears’ struggles could ironically be one of the major drivers of Tuesday’s big gain. As of late September, Sears was…
Click here to continue reading
Want to learn more about how to profit off the stock market? Or maybe you just want to be able to look sophisticated in front of your coworkers when they ask you what you are reading on your Kindle, and you’d prefer to tell them “Oh, I’m just reading a book about stock market analysis,” rather than the usual “Oh, I’m just looking at pics of my ex-girlfriend on Facebook.” For these reasons and more, check out my book, Beating Wall Street with Common Sense. I don’t have a degree in finance; I have a degree in neuroscience. You don’t have to predict what stocks will do if you can predict what traders will do and be one step ahead of them. I made a 400% return in the stock market over five years using only basic principles of psychology and common sense. Beating Wall Street with Common Sense is now available on Amazon, and tradingcommonsense.com is always available on your local internet!
