Sears Holding (SHLD) Continues to Surge on Likely Bogus Rumors
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This has been a week that short sellers in Sears Holding (Nasdaq: SHLD) would like to forget.
Shares of the embattled retailer are up 10 percent Friday and 43 percent on the week. The rise in the stock is not because the company is doing well, on the contrary they are doing horrible. The rise is because of rumors that Chairman and hedge fund manger Eddie Lampert will take the company private.
These rumors likely have zero merit, but that hasn't stopped speculators from buying it up. The longs themselves probably don't believe the chatter. However, they know they have shorts on the run and are pilling on. We're sure Mr. Lampert has nothing to do with this (*wink* *wink*).
Shares of the embattled retailer are up 10 percent Friday and 43 percent on the week. The rise in the stock is not because the company is doing well, on the contrary they are doing horrible. The rise is because of rumors that Chairman and hedge fund manger Eddie Lampert will take the company private.
These rumors likely have zero merit, but that hasn't stopped speculators from buying it up. The longs themselves probably don't believe the chatter. However, they know they have shorts on the run and are pilling on. We're sure Mr. Lampert has nothing to do with this (*wink* *wink*).
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