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
- U.S. Retail Offsets Eurozone Weakness | Financial Sense
- Forget Orwell And Rand, We’ve Gone To Full On Plato | ZeroHedge
- Credit Markets Signaling Near-Term Caution | Financial Sense
- Swiss Gold Initiative: Good Idea With Unintended Consequences | Financial Sense
- 10 Things I Learned While Interviewing Tony Robbins About His New Book “Money” | Altucher Confidential
- 2015 Is Shaping Up to Be a “Turkey” of a Year for the U.S. Economy and Stock Market | Financial Sense
- STTG Market Recap November 21, 2014 | FundMyMutualFund
The most relevant financial news and articles from the Internets
- Firefighters On A Desperate Search For Victims After Chicago... | Business Insider
- Market Wrap: CPI Flat in Oct.; Best Buy... | StreetInsider.com
- Still 'no significant progress' in Iran talks... | Business Insider
- Stocks Are Now So Fantastically Expensive That They Will Likely Have Negative Returns For Years | Business Insider
- Rodgers under pressure to lift shattered Liverpool | Business Insider
- Katy Perry confirmed as Super Bowl halftime singer | Business Insider
- A Major Long-Term Change In The Labor Market Is Bad News For The US Economy | Business Insider