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Oh they won’t delay an announcement, but you cannot have an upswing of earnings in bankruptcy and a lowball offer. If time is of the essence, good earnings would put a crimp in their plans.
We wait...
Mark I also think the earnings were delayed because if by chance they were better than expected, that would cause the “Going Concern” to be even a bigger issue.
They can keep delaying the announcement till after the bankruptcy is over.
We should take it and run in this environment. Bankruptcy’s being announced daily.
I don’t think anyone should write any more letters after reading this.
That makes sense. I was waiting for this.
I know but Seeking Alpha articles are questionable. But you are correct and Sears stock does reflect it in the last week.
True, but everyone is the dark with no leaks. It’s a lotto play that can pay big or lose.
Looks like they will get together next week for this rodeo again...
A Going Concern sale is for Assets and Liabilities. Could be on low end, but not necessarily omitting shareholders.
Tell the rest of it...
Judge Jones listen to Okin and read shareholders letters, he is granting a hearing for Okin for full ad hoc committee!! Which means Okin feels there is long term value for shareholders.
No deal today, flippers out. Will manipulate down and say sky is falling.
Get ready for some cheap shares. Should drop back to .23 - .24
Bob, and that’s the process. 21 days after acceptance. They’ve got this locked down and no leaks have occurred so far.
Frustrated day traders don’t usually wait around for courts.
Twitter folks thinking “This is the Day”!!
Don’t understand the process.
I think today’s hearing and the coming weeks will be used to disappoint the day flippers who don’t understand the process.
Will probably tell us a deal has been made but they won’t tell the price.
Yeah, an extra 400M. But the last quarter was basically a liquidation for stores closing. Also we didn’t see that extra 400M move the stock at all. That should’ve brought it up to the .70 range, but it was held down.
Hopefully they’ll push this out..Can’t expect any earnings in last quarter with expenses from store closings and bankruptcy. Real bad earnings could drop this to teens easily.
JCPNQ legal news...
“Bankruptcy Judge David Jones denied hiring of investment banker for creditors committee in $JCPNQ case. Jefferies would have received $175,000 a mo. plus $6 million fee if Court confirms plan not opposed by Committee or $2 million if confirmed plan is opposed by Committee.”
They gotta both locked up now. Crazy
Sears is up over 100% in past two days.
Looks like there trying to get Sears and Jc Penny at same stock price.
I think they keep it low until we know for sure. No real movement on any obvious news.
I don’t know..many MM’s lined up at .35 to fight any upward movement.
They have a “Going Concern” so that will be difficult to do.
No it was a 5.1 earthquake!!! I’m outside Winston-Salem NC and it shook our dishes out the cabinets. Crazy
Yeah they would halt on news before they let Kodak happen.
Well I had my first earthquake here in NC this morning, I’ll take that as a sign.
Thinking about this, could Simon just bid on the mall owned properties and go into business with Amazon? No, because the stand alone stores would compete against themselves. Unless you rename the mall owned stores Amazon centers? But then Jc Penny would just be putting themselves out of business sooner or later. So it sounds like Simon would need the whole Ka-bang to go into this partnership.
Just thinking it out.
When’s the next short report due out?
No volume.
They just filled my 40k order with the strangest thing I’ve ever seen. 30 buys of around 1,333 shares. Under .30 cents.
Crazy
Is there a retail package In the next stimulus?
Looks like we got a gapper this morning.
5B in debt, 331M shares so I would guess
5.3B minimum. But you have unaudited assets and cash on hand that effects that greatly.
I hope that makes the news.
What could be more realistic than to take over the debt?
Looking at this from a different angle I don’t think it’s the proper timing for any new acquisitions for Amazon. Yesterday they were on tv explaining why they are not a conglomerate and today they buy one of the oldest retail companies.
Just think the timing may be wrong.
Sometimes it’s best to sit one out.
Hope I’m wrong though.
Best wishes to ya T. Hopefully those escrows draw you back.
Yeah but I think the market will be down big time today. Hopefully we’re one of a few bright spots.
Thanks, my thinking being with fair reporting on the P/E and when mortgage rates start going up, this could be a 100 bucks in a couple years.
And this doesn’t include any adjustments COOP would have to make once they recognize any old assets...if available.