Why Sears Holdings Stock Is Giving Back All of Its Amazon-Inspired Gains
During 2017, shares of Sears Holdings (NASDAQ: SHLD) have rallied repeatedly as the company has announced various moves to cut costs, raise cash, and extract value from its remaining assets. However, each rally has fizzled out, as Sears' underlying business trends remain dreadful.
This process played out again in miniature just in the past week. Sears stock jumped 20% at the opening bell on Thursday, after the company announced that it would sell Kenmore-branded smart appliances integrated with Amazon.com's (NASDAQ: AMZN) Alexa platform through the e-commerce giant's website. The stock has now given back all of those gains.
Source: Fool.com
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