AI VISION Buys Sears Holdings Stock Rallies 560% on Robotic Trading
February 11, 2019
AI VISION Fund upgraded shares of Sears Holdings to Strong Buy at a price of 20 cents seeings shares rally close to 560% since then. Sears Holdings is seen as the Bull of the Year 2019. Learn more here.
A bankruptcy judge has blessed a $5.2 billion plan by Sears chairman and biggest shareholder to keep the iconic business going.
The approval means roughly 425 stores and 45,000 jobs will be preserved.
Eddie Lampert’s bid through an affiliate of his ESL hedge fund overcame opposition from a group of unsecured creditors, including mall owners and suppliers, that tried to block the sale and pushed hard for liquidation.
Reality is merely an illusion, albeit a very persistent one. Albert Einstein
In delivering his decision Thursday, U.S. Bankruptcy Judge Robert Drain for the Southern District of New York rejected the committee’s claims that the sale process was unfair and flawed, that it shut out any other parties who could have been interested in buying the business and that Sears had more value to its creditors if it died than if it lived.