Given that Alcoa was 11 just a couple weeks ago it is very unlikely that shorts are feeling much pain below 9. Wait for 11, wait for 13, wait for 16... then start to think about covering.
Where did that real estate number come from? Current Balance Sheet shows a much smaller number. And yes, I do understand how depreciation decreases book value of real estate over time even as market valuation increases.
I don't know if it will close green or not today but is holding in there great yesterday and today considering the 375 points off the Dow in that time. I think good news is coming...
JCP was almost the first to release any sales info. It probably didn't want to divulge too much info to competitors. "Pleased" likely means "beat". Look forward to the ER to know for sure. You are just guessing.
Yahoo Finance shows 86,000,000 shares short. Your number is off by a factor of 10.
So your last short trade was about 2000 shares. With the other trades you posted earlier, you must have been trading more like 15000 shares. $8000 per day is on track to make $2 million per year. Sure that's believable. Right.
Did you catch that run from $9.90 to $10.20? That's another big money trade for a day trader. Oh wait, that's another trade on the long side. Carry on short_bus_rider.
That could be true... except that it isn't. December was good for JCP. You will see that in the ER soon.
With that low volume it can't be much short covering or accumulation going on. Must just be folks interested in buying. Still has a long way to go to get back up to where it was at the start of the year though.
Since the stock is down about 30% so far this year (less than three weeks) it needs to buy up a couple bucks then have a wide trading range. The customers are going back into the stores so I hope that translated into more (profitable) sales over the holiday season. Hard to tell about their online business but from the number of times I've been hit with coupons, I have to guess that online was okay too.
The argument for the first one I read falls apart in an instant if the author would simply have mentioned that the company reaffirmed guidance for the quarter. I guess it is easier to create more content for publishing if you don't take much time to do any research... or if you are okay with being obviously biased. Motley Fool, Seeking Alpha and the Street are all in the same camp. None of them are worth reading for real information. Are there any sources that just give accurate, unbiased information? Analysis is great but use accurate data.
Maybe I can become a "Seeking Alpha" star!! I think I would tend to put a little more time into research before publishing something under my name. Frankly though, I have such a low opinion of Seeking Alpha that there is no way I could ever write for them.
Trending up on "no news" that the company is selling bunches of real estate. Word of that must have been leaking out for weeks... and especially the last few days.
The bond offering was pushed on the company by Prem Watsa when he was "representing" both sides. Selling real estate and leasing back only what they need is simply good business practice. It is a way of unlocking value when Wall Street is overlooking it. Some folks on this board have been pushing that idea for many months.
That real estate was purchased 20 years ago. It is possible the value has increased since that time and the book value is no longer accurate. Market value is higher... but you know that ;)