There is absolutely nothing to recommend SHLDQ as an honest investment.
Its in bankruptcy, perhaps due in part to "bad business practice", but other factors are in play as well.
Sears (SHLDQ) was under such a heavy debt load, that even the $5.2B that Eddie Lampert (ESL) paid for their best assets was only able to pay off a part of that debt.
From financial filings (both with the SEC and with the BK court), you can see that Sears still has about $6.5B in claims that will never be fully paid. Sears has recently estimated that the cash it will have available will only be able to pay off its most senior debt. While those on the lower end of the totem pole will only get about 2.5 pennies on the dollar or nothing at all (including SHLDQ equity holders).
As the process moves along in BK court, SHLDQ share price should continue to decline, until the last remaining holders are MMs and those who are simply unwilling to sell their shares at any price for whatever reasons they imagine.
The only people who might get "rewarded" will be nimble traders who are able to take advantage of short term price fluctuations of SHLDQ. Other than that, I can't see anyone holding these shares getting rewarded. Unfortunately that's the "reality" of the current situation of Sears and its common shares, SHLDQ.
all imho.