Friday, December 8, 2017

Sears Gains as Investor Asks Chain to Consider Going Private

Image result for searsSears Holdings Corp. shares rose after investor Memento SA recommended the retailer consider going private, saying that “excessive” short selling has hammered the stock.

The firm, which serves as investment manager for Switzerland’s Spadone family, also called for an investigation into recent surges in short selling. Memento said in an open letter to Sears’s board that it owns nearly 2 million shares and believes in the long-term value of its stores, brands and employees.
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