I wonder who is backing up the truck in the low $8's. It wouldn't be me... ...this might be another JCP dead-company-walking stock that somehow just won't die.
Wall Street is funny. I have a big long position (+40% in 8 months, options more so) in a company the Street openly declared completely dead - like, inevitably BK - while it continued, Q in and Q out, to make $1 B per year in profit AND free cash. The company isn't debt-free, but it was far from distressed even at its worst point.
But, like, BBRY and JCP are fine, I guess? Tons of value there? It's just funny how for one company the Street abandons the comeback story when the BK is filed, while another company, very profitable, is somehow inevitably "dead."
Everyone has his own risk tolerance... ...gl to all, no interest in seeing anyone lose money here. Just reflecting on the psychology.