Can the shorts try a little harder to get this price down some more?
JCP has until 2022 5 long years, and with 2.35 billion at their disposal I'm thinking what a great way to get that Mother of all Squeezes started. How many shares off the market would a $900M repurchase be? What impact on the shorts? Think about it.
"J.C. Penney $900M Stock Buyback: Driven by Management's Personal Interests"? Happened before, why not now? Check out the CEO and Bod's JCP holdings. What an incentive for a like repurchase. Will history repeat?
I wonder if anyone has ever done a professional study on just how much damage is being done to our country's economy by malicious short trading?
Just out of curiosity I checked with another browser where I am not logged in on this site to see if Ocul is still playing his tricks. I was surprised to see he is. What a stamina and how dismaying it must be to know that everybody has muted him and he is just yakking his nonsense to no audience. However on a serious note, it comes across as profoundly weird that somebody has the time and energy to spend all day writing nonsensical posts every 2 minutes. Weird, weird, weird and a bit sad.
IMO even some fund managers are lazy and prone to herd mentality. It is fashionable to trash retail and often JCP in particular. The thinking, if you call it that, is that I heard retail is bad and have seen a lot of JCP stories so it must be bad, I will just repeat what I heard. Think Cramer got it right when he ranked retailers on survivability in current market. JCP came out near the top at 2nd position behind JWN. JCP was ahead of M, KSS and 7-8 others. They ignore that JCP trends are moving in right direction relative to all their peers. JCPs Same Store sales while negative last Q were better than most of their competitors. JCps credit rating has improved 3-4 notches over last few years. JCP refinanced credit facility with better terms definitely giving them at least another 5 years of runway in a tough market. JCP diversifying away from retail into appliance and home goods.
There is nothing wrong with JCP people, it is desperate shorts trying find something to cover a 37% short position.
It's up 9 cents!! Time for day traders to Sell. Then buy back in when it down 10 cents
Easy to forget sometimes about the company other than the stock price. Went into the local store a few days ago here in Ohio and talked to the appliance salesman. They did great business in May. Over $100k just at that store. Apparently men's suits are being moved to make way for mattresses and furniture. Also saw JCP Home Services is now being advertised on the website's front page. The guy I talked to said they will be starting that at our store in the coming months. Love the company. Hate WS's valuation.
This is not a company going into backruptcy: Trader on JC...
Trader Jim Lebenthal talks about his reasons for keeping JCPenney in his portfolio after it plummets. The “Fast Money Halftime Report” traders weigh in.
If, and it is a big if, but, if KSS, DDS, M, JWN, JCP etc don't have a heavy sell off before close then the bottom in retail for the year might have been seen yesterday. KSS, DDS, M, and JWN all have bullish engulfing candlesticks today and JCP has a hammer. We will see, but possible. Possible double bottom happened yesterday for these. Never know for sure, will have to wait some days for confirmation.
Personally for me, can't speak for anyone else, I am no longer impressed with amazon as a consumer. So far this year I have purchased about 20 items online. I shop around and every single time another company has better pricing then Amazon. On jewlery I have bought 3 items and JCP beat Amazon hands down. I bought a new pair of sneakers and again JCP beat Amazon hands down. I bought 2 pairs of dickies work shorts and JCP beat Amazon big time on those. I needed another memory stick of RAM and Walmart beat Amazon. Today I needed to buy a USB wifi dongle for an older laptop and Walmart was the winner of my purchase. I bought a Kurig and Walmart beat Amazon. I bought a new baseball hat and MLB website was actually the best. I can go on and on but basically my point is folks really need to shop around. If they do they will discover other competitors beat Amazon the vast majority of the time now days. Its been a surprise to me this year but that has been my experience. As far as JCP being down 6% today simply because Amazon "previews a fashion concept" is silly. I bought back a ton of shares in this 4.50s range that I had sold days before. I bought a ton of KR on Friday at $21 also because that drop there was also very silly. Sometimes I feel as though the market just gives away money.
I think the management team should buy some shares to give us some confidence. Do you guys agree?
You know what would give investors a vote of confidence -- - - -- If the CEO took one years salary and bought a million shares of the company he's so confident in - - - funny how the only shares he seems to want are the free ones given at the expense of paying shareholders
So how mamy of the Amazon clothes have been tried on by other people? Bedbugs, germs, worn and returned, etc. No thanks.
It's official - the US 'retail apocalypse' has moved north as Sears Canada (and some of its subsidiaries) have applied to Ontario Superior Court of Justice for protection under the companies’ Creditors Arrangement Act (CCAA), in order to continue t
AMZN's prime wardrobe flawed. It in NO WAY GETS AROUND PROBLEM of FINDING CLOTHING which is a highly personal process where fabrics have to be touched and fit can vary EVEN across the same size. A large in one color may fit differently than the same item in a different color. So you can order clothing and allegedly return it for free by taping up your box, contacting AMZN for return and leaving on your doorstep(where you hope someone doesn't steal it). If someone does steal it, guess you are out of luck. They are going to incentivize you to keep the items rather than returning them by offering you a discount based on number of items you keep. Here is what this means in reality. IMO, AMZN will charge everyone more for clothing in the first place to subsidize the returns. I don't see AMZN or anyone other online retailer being able to successfully replace the in store experience. I have no plans to change my clothing shopping to eagerly buy 100 different things from AMZN to return 90 of them. If I wanted to be a UPS employee, I'd become one. Lastly, on price, one can get JCP shirts for $10, $15, $20. Not expensive at all. Quality is high in JCps clothing. And you can even find JCP clearance shirts for under $5. Don't see AMZN getting around this with the shipping they have to contend with. IF I want to buy cheap chinese clothing for $5, there are places on line where I can do this should I ever go insane.
Another day like today and JCP's PPS will be staring down the barrel of $3+...at some point, mutual funds and institutional investors will start dumping...further exacerbating the down slide. JCP management remains silent on the sidelines...no stock repurchase plan...
So, was closing 140 stores a critical mistake on Ellison's part? Is that the catalyst to dropping stock prices and low confidence levels? Seems like it's going to take some dramatic news from JCP to turn this around. Sooner rather than later.
Sears Canada filed BK today.......Next Sears USA in July after the 15th.....yea!!!!
I have a party tonight. I have nothing to wear. I need a new pair of shoes right now. I also need to wear something fashion that stands out. I don't want to embarrass in the party. I need it now now now. How do I get it? Of course, at the local retail stores. There are JC Penny and Macys near by. Good!
"Something's happening now. Something ... no one seems to be noticing, and that's the characterization seeping in that Amazon, loved by consumers, might end up being viewed as the evil empire," Cramer said. I agree with him and was going to post this yesterday. AMZN reminds me of IBM in the old AAPL commercial. AMZN is becoming the big bad monopoly. I have been buying more good from other places than AMZN online.