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J. C. Penney Company, Inc. Message Board

  • bruno3047 Aug 26, 2013 4:39 PM Flag

    Do some people on this board actually think Ackman selling is a GOOD sign? Wow. This guy was on the BOD

    And he is now trying to dump his entire 39.1 million share stake through a secondary offering via prospectus at a HUGE loss, and some folks here think that's a GOOD sign? That's too funny.

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    • Does today's PPS tells you anything????

      Sentiment: Buy

    • Related: J.C. Penney posts big loss, but CEO upbeat
      Ackman hasn't been happy with interim CEO and Penney veteran Mike Ullman either, and was pushing to replace him sooner rather than later. But the board continued to support Ullman, forcing Ackman to step aside.
      Following his departure, Ackman reached an agreement with the company that allows him to register to sell shares of J.C. Penney in up to four separate blocks.
      Experts worry what Ackman's sale will signal to the market, given that Ackman has "been privy to all sorts of information for a long time" and is willing to take a loss on his investment now out of "fear of losing more money," said Brian Sozzi, chief equities strategist at Belus Capital Advisors.
      Ackman disclosed his stake in J.C. Penney back in early October 2010. Shares have since lost around 50% of their value since then. To top of page

    • Bruno,
      I came to check when I saw the article. I too can not believe anyone could think that is a good move for retail longs.

      Better get this off of your margin accounts... ASAFP! lol


      Sentiment: Sell

    • Definitely yes. Would expect his stake to be picked up easily by other institutional investors like Soros or Kyle Bass who just recently joined the party. Another wild card would be Carl Icahn as he would love to expose Ackman once again. If Icahn indeed buys parts of Ackman's stake tonight the stock would be up double digits tomorrow easily.

      That said the offering removes a major overhang for the shares so I would expect this one to price at $13 or $12.50 at least and the stock to turn positive soon after that.

      If Icahn buys in the stock will trade up to $16 or even higher

    • bruno3047 Aug 26, 2013 5:13 PM Flag

      The one thing that Ackman loves above all else is MONEY. If he thought there was ANY chance of him being made whole on his investment, which I believe is the $19 - $20 range. He would just sit tight. The fact that he is wasting no time in bailing out speaks volumes about how he, and all the financial people who work for him, feel about JCP's prospects.

      • 1 Reply to bruno3047
      • It's because he got his chance with RJ and lost. He even been kicked out of the board. And you still think you has chance to fight???? wake up..... For him to sold out maybe bad for short term but it is definitely a good thing for long term. Wall street major players are getting in lately, you think they don't expect Ackman will sell out???

        Sentiment: Buy

    • well_off_and_well_connected well_off_and_well_connected Aug 26, 2013 5:08 PM Flag

      He sold because he can't sway the BOD to do things his way
      he is not an investor. he has lost a lot on money on retail stocks because he want a board seat

    • Actually, if you believe in jcp for the long run, than yes its a very good thing and decent buy and hold.....after the melt down in share price.
      Ackerman is a cancer. remove the tumor and the body can start healing.

    • That's why 95% of retail investors are loose money. You have to think as "different". Are you going to pickup long shares when HPQ, HLF, BBY, NFLX had nothing but bad news.... for you, more likely short them. Hope this answer your question. GLTA

      Sentiment: Buy

    • Ackman was the only hope JCP had left. But, this was pretty much expected after he got booted from the board. Happily, I made money both directions :-).

    • Count me as one of those, I can't stand his smug self-serving statements that he spews as if he actually knows better than everyone else the businesses he gets involved in. He bought in based on his superior intellect at much higher prices so should we pay attention to his sell at much lower prices or his original thinking? Or perhaps ignore him completely as he pouts that he didn't get his way with management. Fire him! Hire him! No fire him! Now hire him! His credibility is taking a beating, wish I had gotten a good piece of him on Herbalife but that train left the station. The man needs the cash is basically why he is selling, go check his situation net-net on all his deals.

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