Bishop Research and Analytics
Research analyst, long/short equity, deep value, long-term horizon

Sears Holdings' Valuation Part Three: Multiple Valuations And Short Interest Fuel Volatility

Preface

Nine years ago this month it all began. In March 2005, Sears Holdings (NASDAQ:SHLD) was formed through the merger of Kmart Holdings and Sears, Roebuck and Co. after lengthy private negotiations throughout 2004 finally resulted in an agreement that was announced publicly in November 2004. As this month marks the nine year anniversary of the merger of the two flagging retail chains, it is an appropriate moment to evaluate the combination through the lens of the stock performance of Sears Holdings. In our previous reports on Sears Holdings, we conducted a provisional sum-of-the-parts analysis of the company in Sears Holdings' Valuation: Between Berkshire Hathaway And Bankruptcy in June 2013 that was followed by a comprehensive report detailing...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
FREESA PRO MEMBERS
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details