I appreciate your optimism. You must be smoking something funny though to think $9.50 open... are you from Colorado maybe? :)
Shorts probably sleep fine since this turkey traded down 10% in a single day. Is down 25% so far this year. Their profit is already in place. Better for them to close out and move on to something that has more profit potential. I think JCP is turning around. I don't want to have to wait years for it though.
The "bad news" was that the company didn't say what sales were for December. All it said was that it was "pleased" with holiday sales. The market is interpreting that as bad news. JCP was one of the first out of the gate with holiday sales news. Could be that sales were up 8-10%. Constant stream of coupons online and in the papers could mean Internet sales way up. Online sales may have jumped!
Yes I can hear the narrator now... "Please seek medical assistance for a stock price that is up for more than 4 hours."
Seriously though, JCP turnaround is in place and moving forward. Plan on it.
The store closings are a one-time cost which will help the company every year going forward. Great return for the cost... assuming the JCP turnaround is for real and keeps going.
Plans had to be in the works for a while. Macy's jumped when they announced store closings and layoffs. Looks like JCP had about 5 minutes of happiness. Maybe investors were looking for more underperforming stores to go away and leave only stronger stores.
And our local JCP store beat the pants off the local Macy's store before Christmas. Time for this dog to have it's day!!
The only thing major_short about this guy is his intelligence... and you thought I was going to say something else... hehehehe.
So you have abandoned your "one id only" strategy for a few self promoted ones? You promised me you would let me know if you created more ids. You didn't.
Is self promotion kind of like self stroking? The bigger the title the smaller the, ummm, well, you know. ;)
Market has been closed now for about 10 minutes... stock is already trading up on news of store closures and layoffs. That's the same strategy Macy's announced when their stock hit a new 52 week high a few days ago. Come on JCP!! You have some room to catch up!!
You are clearly trying to create a rumor. Good thing you are a little tiny fish otherwise regulators might want to talk to you.
Dude, look at the lines of customers at the checkout (at least during the holiday season). Company has financing for at least two more years without any improvement in the business... and the business is improving. Get over it and move on.
Macy's had fewer customers in it this season than JCP here at our local mall. I know because I did a customer count several times. It may not be that way everywhere of course but I think JCP will surprise on the up side at their next earnings announcement.
JCP beat the pants off Macy's here locally. Can hardly wait for the uptrend in stock price. Been in the toilet this year so far.
I can't find any news either except for the ongoing Target credit card problem. It's a good thing JCP mngt was "pleased" with holiday sales and reaffirmed 4th quarter guidance... then JCP got an upgrade the next day. JCP beat the pants off Macy's here locally! Current market cap almost equals "liquidity" of $2 billion but stock is still down 25% this year.
At a price of a penny, each contract (for 100 shares) cost $1 plus commissions. 3201 contracts traded. Do the math. That is not a very intimidating number.