Investing In JC Penney!
  • I've got JCP on my radar screen. Huge loss in credibility last week when the CEO said they didn't need to raise cash, but raised $900 mil anyway at $9.65. New shares, ~38% dilution. The good news is they have $2.3 billion cash and a lot of the big investors have exited. They aren't going bankrupt with that amount of money going through the holiday season. There are also some signs of a turnaround.

    With the stock at $8.70, the risk /reward looks like it's on the upside. This stock is total SPECULATION given there are no earnings it it has something like $5 billion in debt. Anybody want to share some thoughts?
  • Hmm, interesting. I'm trying to come up with why I think they would turn around. They seem to just sell clothes and accessories like jewelry, which I'll admit, I'm quite a noob in. Will people desire more and more what JC Penny has to offer? Do they have a visionary CEO? I'm on the fence on this one - I want to believe the stock price will double in a year or two, but lack enough understanding or confidence to pull the trigger at this point.
  • I took a stab at this, but had a loss order fill which ended up losing me about $500. It is now about 70 cents above what my initial order was, so in hind sight, holding would have been better. But you live and learn. Time will tell if this will go up any further.
  • I have a feeling one can make 50%-100% in JCP if they can just report good holiday sales. This is the scariest stock I've traded in a while.
  • JCP @ 7.50. It is good to buy now for short term.

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