What happens if you own them when they go to zero? Effect on SHLD common shares anything? Could it cause a spike in SHLD shares?
Here is how my broker put it:
"If you take no action by expiration on the rights in your account for Seritage Growth Properties (SRGRT), the rights would expire and the short credit you received would be released and credited to your account."
There are tons of shoplifters. Also, people who work the SYWR system, double coupons, and the like. I actually saw a woman who bought 30 dollars worth of stuff for free and Kmart somehow owed her 18 cents.
Can someone please explain how the shares work? If I sell, don't I get the total amount?
i wonder what the chances are of my short srg-ri rights expiring worthless... they have dropped down to $3.00 but i really dont want to even cover at that price.. if they are not exercised what will the closing price be when they expire??
the only repeat shoppers are the shop lifters
has everybody noticed the recent multiple additions to "loss prevention"
while Eddie boy maybe screwing the employees, they are doing a little screwing of their own before they leave
service is stealing more than the stores ( or does somebody really think it takes 10 boards to fix something )
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But there will be more cash burning than ever. Take profits now on your short position and sell naked calls again in August.
Berkowitz is not buying (he actually unloaded a bunch when he moved the 913,000 out from under his personal holdings)
Berkowitz holds 71700
investor money is being lost
have you read Berkowitz Sears case study 1 ? (that says it all)
you act like Berkowitz is somebody ?
he chased SHLD to $175
he chased JOE to $75
he bought SRSC at $9.50
he has been in and out of stocks eating losses right and left
oops, his investors are eating losses , while they pay that Idiot fees
look at the history on Berkowitz
check out dataroma , it will show his trades
and now he is trading fannie and freddie
yeah buddy , he is a real geru alright
a few years ago he had $21 billion
he is down to $5.3 billion
Thanks, that is what I am hoping for. I guess the owner of the borrowed shares can choose to execute and force me to buy to cover though.
troppo i too was assigned the rights. We were not paid any cash. The right is to buy the real estate trust. The value rises and falls in my account according to price but never a change of profit or loss. If you don't buy to close the short position it will be a non event with no profit or loss.
Here's the deal. If it was just Eddie, then I would understand what's going on since he his net cost is zero. But Berkowitz has a higher cost so if not for Berkowitz buying more shares, I would agree with you wholeheartedly. But the way things are described in that article, it makes me wonder if something else is up. It makes a lot of sense to me that they would be funneling money to a bankruptcy remote shell as long as they can and then just let Sears die.
But there are no numbers, no financials, no understanding of the ownership. I don't understand how Sears can go through a bankruptcy without including all assets. I guess we'll find out during the bankruptcy - this is going to be interesting. Sleazy but interesting.