Another American icon is on the chopping block today as Sears Holdings Corp. (NYSE:SHLD) prepares for an impending, and rather unavoidable, filing for bankruptcy. Following the announcement, the company’s already struggling stock plummeted 32%. And with a massive $11 billion in debt, the future isn’t bright for what was once the cornerstone of American retail.
On this episode of Varney & Co., guest host Charles Payne, Keith Fitz-Gerald, and Shah Gilani discuss the how and the why of Sears’s failure – and if anything could have been done to avoid the collapse. Later, hedge fund manager Bill Ackman has a $1 billion stake in a surprising company – and Shah expresses what he thinks about the stock’s activity.
Then, Shah reveals the only red flag he sees at the present moment. Listen carefully and see if you can catch it.