JCP's always been a dog. Been hearing about how their turnaround is just around the corner seems like my whole life. P&F attached. 3.71 PO. Like someone said above, only good strategy on this is "Whack-a-mole": if its head pops up, buy puts. Someone will hit it again.
LOL, people are amusing when they are so young. When I bought JCP in August 2003, so many were selling short.
Actually, I'm quite old. Let me put it this way: I don't recall, ever, hearing anyone say "I got this xxxxx at a great price at JC Penney." Has never happened. I do recall lots and lots of articles in investment mags and papers about how this new strategy at JC Penney will propel them higher. Somehow, never happens.
"J.C. Penney's bonds slammed by wider-than-expected loss, weak outlook" https://www.marketwatch.com/story/j...er-than-expected-loss-weak-outlook-2018-08-16
somebody put a fork in her. I cant even remember the last time I even saw a JCP Penny, let alone go in the store.
"Citi tags J.C. Penney as $0.50 stock" https://seekingalpha.com/news/3383801-citi-tags-j-c-penney-0_50-stock .
quite a bad name. why call it JC Penney? people might pronounce it as JC Penny Now it is penny stock.
Rating Action: Moody's downgrades J.C. Penney to B3 from B2 https://www.moodys.com/research/Moodys-downgrades-JC-Penney-to-B3-from-B2--PR_387887 .
"JCPenney Announces Departure of Chief Financial Officer" https://www.sec.gov/Archives/edgar/data/1166126/000116612618000061/jcpexhibit991sept2018.htm SEC filing date and time: 2018-09-27 17:19:56 .