Just got back from an informal information gathering trip to the biggest mall in this area.
Sears: Very friendly sales people. Had time to greet me personally because there were hardly any customers in the store.
Dillard's: Big store. Open design. Not many customers.
Beall's: Same as Sears, friendly but almost no customers.
Macy's: Quite a few customers in here. Should do well this holiday season.
JCP: Almost twice as many customers as Macy's. Checkouts throughout the store... many had 6+ customers in line to pay.
He claims to trade on the Toronto Stock Exchange more than here in the US. I guess that exchange is more exciting when you do paper trades in an account with pretend money in it.
Blackberry has more cash than JCP and has lots of debt free real estate. JCP has something BBRY does not have though. Look at the institutional ownership plus insider ownership. BBRY is sitting about 68%. JCP is sitting about 124%. If the insiders and the largest funds holding JCP shares simply called in their stock certificates, shorts would HAVE to cover. That move doesn't do anything to help the underlying situation in the business but would give a nice kick to the stock price!!
Analysts won't start to really upgrade BBRY until it gets back to $9-10.
Isn't that amazing that a $3 billion company can report a $4.4 billion loss in a single quarter and the stock rallies 16%? Poor shorts must really be scratching their heads....
Might cross $7 but still isn't a short squeeze. That has not yet materialized.
Yahoo Finance reports 224 million share float for JCP. That probably doesn't include the recently issued new shares. it would be a neat trick to have someone add 300 million shares to a holding!!
Yahoo Finance reports that JCP has 224 million share float... that probably doesn't include the recently issued shares. If Icahn added 400 million that would be a good trick!
Two articles out today that were actually positive about JCP and the stock still did the slide. Customers ARE coming back into the stores. I'm sure many are using coupons but that happens in the other stores too.
The temperature finally cooled off enough we could shut off the air conditioner and open the windows. The scent of pine needles from the Christmas tree drifted through the whole house. Oh, and not reading the constant stream of short bashing baloney on this message board was quite refreshing. Happy Holidays!!
Interesting data point. I can hardly wait for shorts to make comments like:
"poor people drive one at a time to JCP to get something at 70% off whereas wealthy people car-pool to the other stores to buy lots and lots of stuff so there's actually more (better) customers at the other stores."
The stock is worth over $13 per share now if you just look at the assets. Don't pay attention to the bashbash idiots who post whenever they have a break from serving burgers.
I believe that everything I have said is still true. The assets of this company are worth way more than the current stock price indicates. I stand by that analysis. I think most folks on this message board know you as a "Richard" head.
Bernstein hires idiots to do their analysis for them. It's all about getting bulk material out instead of getting good material out. Don't pay a lot of attention to their reports.
You are almost humorous with these outrageous comments. Do you get paid by the hour to post baloney or do you get paid by the post to make this stuff up?