Bill,
Your post on J.C. Penney reminded me of something I meant to write earlier.
I posted about a shopping spree at a local K-Mart which closed, as I bought all sorts of worthless items for 99% off. (There was very little left by that point.)
Do you remember that in late 1995, early 1996, there were rumors that K-Mart would be unable to pay creditors, etc., and their stock dropped to 5 and a fraction? It has since recovered as high as 19, and is now at 17 9/16.
One local store has closed, and another has begun the same process. My mother, who has a better feel for shopping than I, says that she has seen this trend with other retailers, and that once they get to the point of closing multiple stores, they always end up going under.
So according to my mom, K-Mart (KM) is a short to zero. |
