J.C. Penney on the $5 and below rack

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

Shares of J.C. Penney (JCP -10.9%) fall below $5 on extremely heavy volume after the company's report on sales causes a selling panic.

Though the comp came in positive for a change, it was only about half the rate that analysts forecast.

The company declined on delivering a portion of the bad news (November and December) when it updated guidance on January 4 with a terse 38-word PR, but had to deliver the goods today.

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