Kmart Running Out Of Believers

Updated from 3:16 p.m. EST

When cash isn't a necessity it's a luxury. Two consumer giants were finding that both purposes had their perils Wednesday.

By far the worse off of the two is Kmart(KM Quote), which this morning saw its shares plummet to a two-decade low after an analyst told investors the discounter's turnaround hopes were a pipe dream. The company, which was forced to defend itself publicly against speculation it could eventually face a bankruptcy filing, recently saw its shares falling 77 cents to $4.69.

Back on this side of the abyss, investors were selling eBay(EBAY Quote), in part because of concerns about its ambitious expansion plans.

Fire Sale

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