New 52-week Low for J.C. Penny's
J.C. Penny Company (NYSE:JCP) shares sunk to a new 12 month low of $21.57 and closed at $22.25. Former Apple Inc (AAPL) exec Ron Johnson running the show as of late 2011 at J.C. Penny isn't helping anything.
In the last 12 months J.C. Penny shares are down 35% and almost 50% since mid February of 2012. If you believe in the turnaround story that CEO Johnson is talking up then now would be the time to buy. Then again, its possible shares could keep falling so its buyer beware.
Johnson is attempting to rebuild the company from the bottom up and shareholders must take a leap of faith that his vision will return JCP to greatness. Gone are the coupons that J.C. Penny shoppers once loved and same goes for former President Michael Francis who left the company yesterday. Ron Johnson may have been all that and a bag of chips at Apple Inc but he's destroying J.C. Penny in a hurry. Last month the company reported a worse-than-expected 19% drop in same-store sales and suspended its dividend after reported an unexpected loss.
Masters we would love to say JCP has hit bottom but at this point this stock is a falling knife. What do you think? Let us know in our comments.
At this point, this stock could get cheaper, be patient.
Best of the Blogs
Scanning and identifying the best blog entries every hour
- The Dollar: More of the Same | ZeroHedge
- Burst Chinese Housing Bubble Leads To First Annual Price Decline Since 2012; Prices Drop In Record 69 Cities | ZeroHedge
- Stocks Shrug Off Ebola, Surge Most Since 2011, Still A Red October | ZeroHedge
- Van Hoisington And The Fed's Bubble: "Overtrading" And "Discredit" Always End In "Revulsion" | ZeroHedge
- Despite WHO's Confidence, Mali Becomes 6th West African Nation With Ebola | ZeroHedge
- It’s a green back for a reason!! | ZeroHedge
- Ebola Fears Take Shine Off Panic-Buying Surge In Stocks | ZeroHedge
The most relevant financial news and articles from the Internets
- 3 Lawsuits Challenge Chipotle's Reputation As An Awesome Employer | Business Insider
- Struggling Emerge Energy Is Ready to Soar on Oil Price Recovery | TheStreet.com
- Meet The Investor Funding Game-Changing Startups Run From College Dorms | Business Insider
- Shooter opens fire at US school, kills self: report | Business Insider
- Pre-... | StreetInsider.com
- BARCLAYS: These 25 Stocks Are Ready To Bounce Back From The... | Business Insider
- Gatorade's Top Doctor Says You Should Do These 3 Things After Every Workout... | Business Insider