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Why Sears Holdings Stock Slipped Today

TheMotleyFool

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Why Sears Holdings Stock Slipped TodayPhoto, wide shot, wide-angle lens, Grocery store, Midday, harsh overhead sunlight, directional sunlightt, photo by Thomas Heaton: https://img.midjourneyapi.xyz/temp/9a6c3fc6-53ff-4c6e-848b-263660ac3eb0.png

Sears Holdings (NASDAQ: SHLD) stock was falling today for the second day in a row following news yesterday that Fairholme Capital Management founder Bruce Berkowitz was stepping down from the board. Berkowitz did not provide a reason for his decision, saying only that he wished "the company and its associates all the best as Sears Holdings continues to execute on its strategic priorities." His fund had been Sears' second-largest shareholder after the retailer's own CEO Eddie Lampert, and Berkowitz had been one of the stock's biggest boosters.

Shares lost 11.5% yesterday and were down 5.5% today as of 12:17 p.m. EDT.

Image source: Sears.

Source: Fool.com