real-time news and commentary for investors
Friday, Oct 4
J.C. Penney can't hold on to $8 level
- J.C. Penney (JCP -6.2%) is trading below $8 for the first time since 1982 as sentiment stays decidedly poor on the retailer.
- Plenty of sharp cookies (Soros, Hegeye, Bass) tried to catch the falling JCP knife on the way down - but the darn thing slipped through their fingers.
- JCP in a nutshell: Too many shares floating around for too few buyers.