CNNMoney:"These rumors are unequivocally false and constitute nothing more than attempted market manipulation by certain types of investors for their own personal gain," said J.C. Penney spokesman Joey Thomas. The retailer added it has made "meaningful improvements" in its turnaround plan and expects to end the year with more than $2 billion in excess liquidity.
What a joke, so if the great investor Warren Buffet gets MSNBC (I use that because he seems to live there) and says to the world on TV he would invest in JCP or intends to that wouldn't be a form of "Market Manipulation".? Isn't that how most of those so called geniuses make their money by telling everyone with a $1 burning a whole in their pocket they are about to invest in a broken stock like JCP.
I remember when Citi gave LNC a $5 target now its $45 - they were spreading all sorts of rumors about Lincoln going belly up and unable to weather the storm. This was 2008. From $5 to $45 and where will JCP be in 5 years ? The last 110 years says STILL HERE.