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J. C. Penney Company, Inc. Message Board

  • redheadinvestor@ymail.com redheadinvestor Apr 9, 2013 2:37 PM Flag

    Market cap still (somehow) 1X B/S NTAV @ 1 Feb 2013

    1) as if all that cash were still there, or was ever there to begin with (receivables shorter, payables longer already)
    2) as if the book value of the real estate holdings were accurate in a distressed situation (note: not questioning the accounting integrity)
    3) as if anything were under control and as if Ullman's hire didn't reflect the absence of a plan and the downfall of Ackman's influence (the board will make sure this fiasco sticks to Ackman)

    as a seven-year-old might say: "...as *if*!"

    grossly overvalued!

 
JCP
8.43+0.02(+0.24%)May 1 4:01 PMEDT