One thing the company hasn't been able to split from has been its awful performance. Over the last six months, the parent company of Sears and Kmart is down 29% and is worth just one-fifth of what it was six years ago.
(Read: Bargain retail lifts U.S. shopping centers as big names stumble)
According to Carter Worth, Chief Market Technician at Sterne Agee, the stock's bears are winning the day as share prices underperform others in its sector.
"If one looks at a chart of Sears versus its peer group – the S&P Department Store industry group or the S&P  itself – this is a stock that has basically made no progress since the bull market began in March 2009," says Worth on CNBC's Street Signs' Talking Numbers segment. "If you look at the absolute price of Sears itself, its long-term chart, you can see that it's hovering ominously at the '09 lows."
Worth believes any bull hoping to buy the stock at a bottom may see further declines.
"I would rather someone else put their money in first," says Worth. "But, be the first guy through the door? Bad move, we think."
Steve Cortes, founder of Veracruz TJM, is a bull on Sears and thinks it's not too early to get in.
"Sears right now is good enough for the Kardashians; they have their exclusive collection there," note Cortes. "So, we're not first though the door – I'm following them."
However, what's attracting Cortes to Sears is not Kardashian-related but related to a different kind of asset.
"What is not perhaps nearly as publicized," says Cortes, "are some of the fundamentals that have really put a floor underneath the stock, the main one being the value of real estate."
(Read: Midday Glance: Department Store Retail companies)
Undervalued real estate was part of the reason current CEO Eddie Lampert purchased the company last decade. Cortes believes the stock's real estate is worth at least 1.5 times the company's current market capitalization.
"You essentially get the company for free effectively on top of the real estate," says Cortes, who also sees the company's ownership of appliance-maker Kenmore and tool company Craftsman as being another reason to own the stock.
"I think Craftsman particularly is a very valuable brand," says Cortes, "one that hasn't been managed well lately but one that has decades of staying power. All of our grandpas had Craftsman tools. A lot of folks in America who work with their hands still strongly believe in that brand."
To see the full discussion on Sears with Worth on the technical and Cortes on the fundamentals, watch the video above.