One wonders if the market will reach new highs daily next year
All the pumpers on this board surely must realize it's the market that keeps
JCP at it's current lofty stock price. There simply is no metric that could possibly
have JCP undervalued at this ridiculous price. If they had the best possible SSS
numbers and earning for the next year they would only scratch their long term
debt and cash burn and lets face it JCP only works in rural or rural suburban
America so many stores will close in the not so distant future. Kmart before
their demise tried parking lot sales one wonders when JCP will start theirs?
Everyone loves to rout for the underdog..JCP is doing all the right moves to stop the bleeding..Longs want to be a part of the success story...Look at PIR pps over last 4 yrs and you will understand better how to invest in retail
JCP is becoming a composite of Macy's and Kohl's, which is not that far off of what it was in 2011. Anyone who thinks that JCP will do poorly in the future would have to expect that both Kohl's and Macy's will also suffer.
If you listen real closely at the close today
You will hear them resurfacing the slate of
Not exactly a reorg ch. 11 like you has hoped
However look at the bright side...
You didn't loose anything but a job...
Yeah. And Twitter hasn't scored a profit yet and is valued at 34 billion. So what's your point? Who ever said the market made sense? You could go to Vegas for all the difference it makes. A single nose-picking analyst is all that's needed anymore. Sentiment rules in these times, not so much fundamentals.
Went to JCP yesterday in SoCal. Bought a couple pairs of jeans. Store packed with people of all ages. I had to wait for a fitting room. Lot of young people too. Lot of moms. Every cash register three deep waiting to check out. Looked encouraging enough that I bought back my $10 covered call this month. We'll see what happens.