The stock of Sears Canada Inc. (NASDAQ:SRSC) hit a new 52-week low and has $1.91 target or 14.00% below today’s $2.22 share price. The 8 months bearish chart indicates high risk for the $234.32M company. The 1-year low was reported on Oct, 7 by Barchart.com. If the $1.91 price target is reached, the company will be worth $32.80M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 38,441 shares traded hands or 33.03% 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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