Today Standard and Poors lowered JCP's credit rating from BB+ to BB. Presumably this makes borrowing money more costly. The stock is up 60 cents. Wall Street logic never fails to amaze me.
For sure. Almost junk status and the stock is up. I did short another 500 shares yesterday. Hopefully the market starts understanding this is a stock with a long way to go to be worth what its trading at.
Only up about 15 cents now and will probably close red. Why invest in JCP when Macy's is cheaper (not for much longer) and a much better run company?