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Should I Buy Jcpenney Stock

J. C. Penney Company, Inc., through its subsidiary J. C. Penney Corporation, Inc., sells merchandise through department stores. The company primarily sells family apparel and footwear, accessories, fine and fashion jewelry, beauty products, and home furnishings; and provides services, including styling salon, optical, portrait photography, and custom decorating services. As of February 2, 2019, it operated 864 department stores in 49 states of the United States and Puerto Rico. The company also sells its products through its Website, The company was founded in 1902 and is based in Plano, Texas.

should i buy jcpenney stock

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When a company declares bankruptcy, its stock still trades, though its ticker symbol changes. That's what's currently happening with J.C. Penney (JCPN.Q), the struggling department store chain that has filed for Chapter 11 bankruptcy protection.

The news, however, is not good for investors who own shares of the company's stock. And while the company being rescued from bankruptcy helps a lot of people, that's not a reason for anyone to buy shares of J.C. Penney.

In a Chapter 11 filing, bondholders, unpaid creditors, lenders, and pretty much anyone or any institution the company owes money to gets consideration before the stockholders do. Usually, those stakeholders end up with more equity, and the company's stock either ceases to exist or the shares you own eventually come to represent a much smaller piece of the company.

The people who tout buying shares of bankrupt companies are day traders or speculators playing a dangerous game. They're treating the stock market like a casino (and they'll lose money in the end like anyone who has a system playing roulette or a "magical" method of beating slot machines).

Earlier in May, retail giant JCPenney (OTCMKTS:JCPNQ) filed for bankruptcy. Therefore it is not listed at the New York Stock Exchange any more, but rather JCP stock now trades over-the-counter. Long-term shareholders know the company struggled with a broad range of managerial and financial issues over several years. And the novel coronavirus pandemic became the final blow to end this century-old company.

Bankruptcy, in effect, means a total wipeout for shareholders. Yet there seems to be daily trading interest in JCP stock as well as another bankrupt name, i.e., Hertz (NYSE:HTZ). And this rather unusual trading activity understandably baffles veteran investors like the CNBC host Jim Cramer.

The internet seems awash with regular headlines on the future of JCPenney and JCP stock. Part of the interest may be due to speculation that another group, specifically Amazon (NASDAQ:AMZN), could buy JCPenney. It may indeed make sense for Amazon to show a genuine interest in the retailer.

In short, such an acquisition would make sense and could happen. And an Amazon-branded brick-and-mortar experience may look a lot more different than what customers have experienced in the past. But does such an omnichannel experience for Amazon patrons mean that JCP stock would benefit and move higher?

In March 2016, JCP stock was shy of $12. Since then, it has been in decline. It started 2020 at around $1. On May 19, it went below 10 cents. By June 8, it spiked up to 68 cents, highlighting the speculative thinking in the market. Now it is hovering around 31 cents.

Even if Amazon, or another group, were to buy JCPenney, it does not necessarily have to acquire the stock as well as the debt that comes with it. Bezos may simply be keen to structure a deal that would buy only parts of what used be the retail giant.

J C Penney Company Inc (NYSE: JCP) stock crashed more than 17 percent Friday to its lowest level since the 1980s after the company issued deep cuts to its 2017 guidance ahead of the critical holiday shopping season. The latest cut only adds to investor concerns that JCP will be unable to save its struggling business.

The first step is to figure out what texture of fabric you like and how warm or cool you want to feel when sliding into bed. Most people should have at least one or two sets of cotton percale or sateen sheets for year-round use, but you may want to invest in flannel or linen sets depending on how cold or warm your room gets seasonally (or mix and match different types of sheets for extra comfort).

JCPenney reached its peak number of stores in 1973, with 2,053 stores, 300 of which were full-line establishments.[21] However, the company was hard hit by the 1974 recession with its stock price declining by two-thirds.[21]

On December 7, 2011, J. C. Penney purchased 16.6% of Martha Stewart Living Omnimedia stock. J. C. Penney planned to put "mini-Martha Stewart shops" in many of its stores in 2013, as well as create a website with Martha Stewart Living.[47]

In August, J. C. Penney began rolling out a store-within-a-stores with different jean brands and had plans to eventually roll out 100 shops in 683 stores.[55] That month, the company posted a second-quarter comparable-store loss of 22%, with internet sales dropping 33%. At an analyst meeting in New York the same day, Johnson said, "I'm completely convinced that our transformation is on track." J. C. Penney's stock rose 5.9% on Johnson's comments at the analyst meeting, the largest single-day stock increase since late January 2012.[56] In 2012, fourth quarter sales for J. C. Penney were poor. Sales were down 28.4% from a year earlier and same store sales were down 32%. Strategic choices made by Johnson a year earlier, including the change in pricing strategy, were being called into question.[57] It was announced in April 2012 that Nickelson Wooster would become the creative director for J. C. Penney menswear.[58]

On April 8, 2013, Johnson was fired from J. C. Penney after 17 months with the company. Mike Ullman, the retailer's former CEO, was announced as his replacement shortly afterwards.[59] In August, William A. Ackman, of Pershing Square Capital Management, continued his efforts to remove Thomas Engibous, the company's chairman of the board of directors.[60] However, Ackman resigned from the board on August 12, and two new directors were subsequently appointed to the board, one of whom was former Macy's vice chairman Ronald Tysoe.[61][62] On September 26, 2013, J. C. Penney, with Goldman Sachs as the sole underwriter, announced plans to issue 84 million shares of its stock. The move stood in contrast with CEO Mike Ullman's remarks from earlier that day, whereby he did not foresee "conditions for the rest of the year that would warrant raising liquidity".[63][64]

On January 15, 2014, J. C. Penney announced it was closing 33 under-performing stores and laying off 2,000 employees.[69] J. C. Penney's stock continued its decline until their first quarter results in 2014 showed signs of improvement, and sent the share value back into the double digits. In October, it was announced that the company would be tapping former Home Depot executive Marvin Ellison to take on the role of CEO starting in November.[70]

In 2018, J. C. Penney closed permanently at Plaza Palma Real in Humacao, Puerto Rico, after Hurricane Maria devastated the store in September 2017.[82] In May, J. C. Penney reported an adjusted loss of $69 million in the first quarter, even worse than Wall Street predicted, and lowered its projections for the year.[83] Sales fell 4%, also missing estimates. Earlier in 2018, the company announced it would cut 360 jobs at its stores and corporate headquarters. The company lowered its earnings forecast for the year to 13 cents per share at best, and said it could lose as much as 7 cents. J. C. Penney finished the quarter with just $181 million in cash, down from $363 million a year ago. Much of the big decrease was because of a $190 billion debt replace. On May 22, J. C. Penney announced the resignation of their CEO, Marvin Ellison.[83] On October 2, J. C. Penney announced former Jo-Ann Stores CEO Jill Soltau as their CEO, effective October 15. With the announcement, JCPenney's shares rose 9%.[84] The company ranked 235 on the Fortune 500 list of the largest United States corporations by revenue.[85][86] She has also brought new talent and has cleaned out inventory.[87] On December 26, the stock price of J. C. Penney (NYSE: JCP) fell below $1 per share. This was the first time shares fell below $1 ever in the 110-year history of the company, which started trading on the New York Stock Exchange in 1929. The stock fell 68% over the course of 2018, including a 30% drop in December 2018 alone.[88]

Earlier in 2019, drugstore chain Rite Aid was nearly delisted from the NYSE. It was able to get its stock price above the required level, and allowed to continue trading, however. Pier One Imports also received a compliance letter about its share price in February, 2019, and another one in August, for its low market cap.

This material has been distributed for informational and educational purposes only, represents an assessment of the market environment as of the date of publication, is subject to change without notice, and is not intended as investment, legal, accounting, or tax advice or opinion. Stash assumes no obligation to provide notifications of changes in any factors that could affect the information provided. This information should not be relied upon by the reader as research or investment advice regarding any issuer or security in particular. The strategies discussed are strictly for illustrative and educational purposes and should not be construed as a recommendation to purchase or sell, or an offer to sell or a solicitation of an offer to buy any security. There is no guarantee that any strategies discussed will be effective. 041b061a72

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