The stock of Sears Canada Inc. (NASDAQ:SRSC) hit a new 52-week low and has $1.76 target or 12.00% below today’s $2.00 share price. The 5 months bearish chart indicates high risk for the $198.66M company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $1.76 price target is reached, the company will be worth $23.84M 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 24,305 shares traded hands. Sears Canada Inc. (NASDAQ:SRSC) has declined 30.60% since March 29, 2016 and is downtrending. It has underperformed by 34.08% 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 faces another $100-million class action lawsuit from its dealers” on November 23, 2015, 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, Marketwatch.com published: “/quotes/zigman/3870025/realtime” on October 29, 2014. More interesting news about Sears Canada Inc. (NASDAQ:SRSC) were released by: Business.Financialpost.com and their article: “Sears Canada Inc narrows third-quarter loss” published on December 03, 2015 as well as Business.Financialpost.com‘s news article titled: “Sears Canada’s new logo ‘bold, confident’ and not blue-and-white” with publication date: August 24, 2016.
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