June 13, 2017 / 3:57 PM / a year ago

BUZZ-Sears Canada: To explore strategic options, shares plunge

** Canadian retailer’s shares plunge as much as 56 pct to record low of C$0.50 after co says it’s exploring strategic options, including a sale

** Shares fall for 3rd day, last down 33 pct at C$0.77, U.S.-listed shares down 30 pct at C$0.60

** SCC raises doubts about ability to continue as a going concern and says exploring strategic options, including sale of company, following years of losses and falling sales

** At Tuesday’s session low, SCC had a market cap of about C$51 mln; It had a market cap of C$1.18 bln when it was partially spun off from Sears Holdings in 2012

** More than 210,000 shares traded, 13.8x 30-day moving avg

** 3-day losing streak erases nearly a third of stock’s value, bringing YTD losses to 49 pct

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