Anyone buying shares of KMart?

Discussion in 'Archived Threads 2001-2004' started by Dennis Reno, Jan 24, 2002.

  1. Dennis Reno

    Dennis Reno Supporting Actor

    Joined:
    Jun 30, 1997
    Messages:
    862
    Likes Received:
    0
    I did yesterday at $0.80/share. I don't see this being a stock to quickly turnover, but rather a long-term bet that they will be able to turn things around.
     
  2. SteveA

    SteveA Supporting Actor

    Joined:
    May 25, 2000
    Messages:
    700
    Likes Received:
    0
    K-Mart is toast. Most analysts believe they will be forced to go out of business within 2 years. If you want to buy stock, I'd suggest one of K-Mart's competitors, or even Amazon.
     
  3. MickeS

    MickeS Producer

    Joined:
    Jul 24, 2000
    Messages:
    5,058
    Likes Received:
    1
    I think it's toast too, but a hundred shares for $80 might be a decent bet still. I wouldn't buy more than that though...

    /Mike
     
  4. MikeAlletto

    MikeAlletto Cinematographer

    Joined:
    Mar 11, 2000
    Messages:
    2,369
    Likes Received:
    0
    Never would I buy Kmart stock...for one simple reason. I don't know anyone that shops there anymore. Stores are always closing up. So if no one goes there and there aren't any stores...its over. Why shop kmart when there are walmarts or targets everywhere (although I don't like going to walmart either).
     
  5. MickeS

    MickeS Producer

    Joined:
    Jul 24, 2000
    Messages:
    5,058
    Likes Received:
    1
     
  6. Dave Poehlman

    Dave Poehlman Producer

    Joined:
    Mar 8, 2000
    Messages:
    3,813
    Likes Received:
    0
    Hell, I just bought Enron! I don't mean the stock.. I mean I just bought the whole company!

    Oh... wait... I left my wallet in my other pants.
     
  7. Scott Dautel

    Scott Dautel Second Unit

    Joined:
    Oct 6, 1998
    Messages:
    471
    Likes Received:
    0
     
  8. DaveF

    DaveF Moderator
    Moderator

    Joined:
    Mar 4, 2001
    Messages:
    17,968
    Likes Received:
    1,543
    Location:
    One Loudoun, Ashburn, VA
    Real Name:
    David Fischer
    Beware buying bankrupt company stocks, even if they have a long history.

    I learned this the hard way when I bought Fruit of the Loom stocks about two years ago. They had serious problems, and the stock dropped to about a buck a share. I thought, they're a well known brand, and the problems were fixable. So I bought $200 worth.

    They tanked. A class-action lawsuit was filed against them by a group of shareholders. They got de-listed from the stock-exchange.

    So, yeah, K-Mart could wholly tank. It's definitely not a sure-thing, that they will recover.
     
  9. Kirk Gunn

    Kirk Gunn Screenwriter

    Joined:
    Aug 16, 1999
    Messages:
    1,609
    Likes Received:
    0
    I was in the same boat. Local ASP (App Srv Provider) was the first certified by Microsoft, doing real well. Stock tanked with everyone elses, so I bought at 2.00 as a long term hold.

    Suddenly an investment firm from Boston decides to invest 100 mill... everything should be awesome !

    However... the investment firm said the only way they would fork over the dough was if the company went Chapt 11 and default on ALL stock. Not sure who would re-invest after losing everything.

    Check out stock USIX, now USIXQ. I had faith in USIX' business model, I have non in K-Mart.
     
  10. Dave Morton

    Dave Morton Supporting Actor

    Joined:
    Oct 19, 2000
    Messages:
    753
    Likes Received:
    0
    Real Name:
    Dave
    If I want to take a big gamble then I'll go to the river boats or casino. That seems too much of a risk. I would rather invest in a solid company that has a good track record and good fundamentals. KMart does not appear to have that.
     
  11. Mike Huay

    Mike Huay Stunt Coordinator

    Joined:
    Sep 2, 2001
    Messages:
    79
    Likes Received:
    0
    I am thinking about buying shares in this Kmart:
    www.geocities.com/kmartsux2002
    He seems to be doing quite well...
    Seriously though, I agree that K Mart is on the way out for good. Count me on the list of persons who would drive out of the way to avoid BigK. 20 mins. more driving for a WalMart: cleaner, had what I was looking for, better prices, Wal Mart has never made it difficult to return things, etc.
    I have never seen a clean K Mart either. Every time I went in there I thought "WHAT IS GOiNG ON IN THE HEADS OF THE MANAGEMENT?"
    Maybe nothing. I would not buy their stock, they have too much work to do, no money, and they are too late to catch up. Here is a good K Mart article in the economist:
    http://www.economist.com/agenda/disp...tory_ID=948832
     
  12. Kevin T

    Kevin T Screenwriter

    Joined:
    Jul 12, 2001
    Messages:
    1,402
    Likes Received:
    1
    .80/share? is that their blue light special?

    kevin t
     
  13. Steve Tannehill

    Steve Tannehill Ambassador

    Joined:
    Jul 6, 1997
    Messages:
    5,547
    Likes Received:
    215
    Location:
    DFW
    Real Name:
    Steve Tannehill
    Yeah, they've had to change their in-store announcements, too:
    "Attention K-mart Shopper."
    [​IMG]
    - Steve
     
  14. Ashley Seymour

    Ashley Seymour Supporting Actor

    Joined:
    Jun 29, 2000
    Messages:
    938
    Likes Received:
    0
    $.80 a share huh. I would'nt consider a purchase till it hit $1.60 a share.

     
  15. Ashley Seymour

    Ashley Seymour Supporting Actor

    Joined:
    Jun 29, 2000
    Messages:
    938
    Likes Received:
    0
    $1.60 a little too low huh? It might be best to wait till it hits $2.00.
     
  16. Paul_D

    Paul_D Cinematographer

    Joined:
    Jul 28, 2001
    Messages:
    2,048
    Likes Received:
    0
     
  17. WoodyH

    WoodyH Stunt Coordinator

    Joined:
    Mar 23, 2000
    Messages:
    228
    Likes Received:
    0
    I can't say I'd recommend picking up stock in K-Mart...but 1> I will freely admit I know _nothing_ about the stock market, and 2> I avoid K-Mart like the plague. And Wal-Mart. Not enough experience with Target to say one way or the other.
    But...ugh. (shudder) Every time I do walk into either K- or Wal-Mart, I invariably walk out as fast as possible in a worse mood than when I walked in. No offense to anyone here who frequents either store, as I'm about to make a sweeping generalization, but if there's any other place outside of a run-down trailer park that attracts such amazing throngs of pure, undistilled, sterotypical "White Trash", I've yet to run across them - and I hope I never do. Sets my teeth on edge every time. Even the parking lots are enough to make me start getting edgy.
    And even if the clientele were better...the merchandise is crap! I'm constantly amazed at the dreck I see on the shelves there...and when people I know have bought stuff there, it seems to be a crapshoot as to whether it works. I'm pretty convinced that companies use the *-Mart stores to offload the dregs of their QC process, and I'm sure I read something a while back about how returns to the *-Mart stores are just tossed back on the shelves for the next unlucky customer to have to fight with.
    Not a company I'd want to give any of my money to in any way, shape, or form.
    But, then - that's me. YMMV. [​IMG]
     
  18. Keith_R

    Keith_R Screenwriter

    Joined:
    Jun 16, 2001
    Messages:
    1,170
    Likes Received:
    0
    Location:
    FL
    Real Name:
    Kyle
    I shop at Wal-Mart[​IMG] . I know a "financial advisor" for Merril Lynch and he told me a story about a client who refused to put stock in Wal-Mart or Target, just K-Mart. The client even gave my friend a long detailed speech about why K-Mart is better than Wal-Mart or Target, looks like he was wrong. I wonder how his portfolio is doing now[​IMG]
    Given the little tidbits of advice that I've learned from my friend, I would say to stay away from their stock even as a long term idea. I'd wait it out and see i they start to improve.[​IMG]
     
  19. Carl Johnson

    Carl Johnson Cinematographer

    Joined:
    May 6, 1999
    Messages:
    2,259
    Likes Received:
    25
    Real Name:
    Carl III
    I wouldn't risk money on K Mart because I can't imagine a scenario where the chain makes a comeback. It's been years since I was last in a K Mart but all of their stores seem to be older and offer less variety at higher prices than the competition. It would be cheaper to completely eliminate the chain and start from scratch with something new.
     
  20. Scott Basham

    Scott Basham Stunt Coordinator

    Joined:
    Oct 30, 2001
    Messages:
    61
    Likes Received:
    0
    Did this post die when K-mart started making the comeback?

    I'm glad I did't read this post ealier or I may have taken the advice. I bought 1000+ at .91.. today it closed at $1.23 and set to go higher...

    Anyone have opinions on how high it will go?
     

Share This Page