The stock of Sears Canada Inc. (NASDAQ:SRSC) reached all time low today, Oct, 7 and still has $1.99 target or 11.00% below today’s $2.24 share price. This indicates more downside for the $234.32 million company. This technical setup was reported by Barchart.com. If the $1.99 PT is reached, the company will be worth $25.78 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 42,204 shares traded hands or 46.05% up from the average. Sears Canada Inc. (NASDAQ:SRSC) has declined 13.21% since March 4, 2016 and is downtrending. It has underperformed by 21.25% the S&P500.
According to Zacks Investment Research, “Sears Canada Inc. operates as a multi-channel retailer. It operates department stores that offer women’s apparel, men’s and children’s apparel, nursery products, cosmetics, jewellery, footwear, and accessories; and home and hard lines, appliances comprising refrigeration, laundry, floor care, and sewing products. The Company’s retail network includes various department stores, furniture stores, outlet stores, dealer stores, floor covering centers, and catalog centers. It also operates an electronic commerce Web site. Sears Canada Inc. is headquartered in Toronto, Ontario.”
More notable recent Sears Canada Inc. (NASDAQ:SRSC) news were published by: Business.Financialpost.com which released: “Sears Canada Inc posts loss as sales fall 15.6%, retailer plans higher cost cuts” on September 07, 2016, also Business.Financialpost.com with their article: “Sears Canada says it will cut more costs as it posts bigger loss” published on June 08, 2016, Business.Financialpost.com published: “Sears Canada Inc faces another $100-million class action lawsuit from its dealers” on November 23, 2015. More interesting news about Sears Canada Inc. (NASDAQ:SRSC) were released by: Marketwatch.com and their article: “/quotes/zigman/3870025/realtime” published on October 29, 2014 as well as Business.Financialpost.com‘s news article titled: “Sears Canada Inc narrows third-quarter loss” with publication date: December 03, 2015.
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