Sears Holdings Corp (NASDAQ:SHLD) has been teetering on the edge of bankruptcy for years, but a new restructuring plan was enough to make investors giddy. The stock skyrocketed by about 30% during regular trading hours on Friday, but despite that, up-to-date data indicates that there’s no short squeeze going on, or at least not yet anyway.
Meanwhile, analysts seem unimpressed by Sears’ restructuring plan, saying it lacks one key piece of information: any shred of a plan to drive sales. The department store operator also released preliminary fourth quarter results, but it’s not the whole picture yet.
Sears Holdings announces restructuring plan
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