Yes its private!!!! but thats the company that bought the assets. His goal is to take that company public - this is what he means. Has nothing to do with existing sears shares.
Now you need to ask your self is he or is it worth taking current sears to 0$ or merging them with new company once it becomes public. At current prices it would add value to the private company to merge the sears shares.
There is a chance that shares go to 0$ of course. You have to have no common sense if you think there isn't a possibility but you need to weight out everything that has transpired since announcing bankruptcy.
1) its no longer bankrupt! most important part Sears name lives on. 2) not a 20 cent stock now but a dollar stock that can be re-listed to nasdq/nyse. 3) Lampert owns over 70 millions shares (other bankrupt companies insider own very little) 4)Now that its a dollar stock it wouldn't be wise for them to cancel shares. 5) lampert cares about the people (supposedly lol) meaning employees etc. Many employees are shareholders. It would be a negative to cancel out the shares after giving them their jobs back.
Weight out your options but most importantly go with your gut. Most investors are happy with 50% returns and move on (daily traders) others are longer term.
I still believe that lampert will not cancel the shares
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