J. C. Penney Company, Inc. is an American department store chain with 865 locations. It is a micro-cap @187million.
This upcoming earnings, this companies fate will be decided as the street awaits details of long-term plan.
If the stock remains below $1 for a period of 30 consecutive business days, they will face delisting from the NYSE market.
JCP August 0.50 straddle is priced for a move of 30% into the expected release of quarterly results before the bell on August 15th.
Analyst note: B. Riley FBR lowers their JCP target to $0.60 from $1.30 as they believe that amid traffic/discounting pressure that has been impacting retail in general, there is downside risk to estimates.
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CEO says: "Change is coming", as they will begin to sell used clothing.
Will have to keep on watchlist.
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They will not...!
The bulls have one the battle. And we have reached $1.
JCP has new plans on a specific retail, and CEO are buying back shares.