dorfmanmaster

Will they name JCPenney JCPenny?

NYSE:JCP   PENNEY (JC) CO INC
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.
Comment: CEO says: "Change is coming", as they will begin to sell used clothing.

Will have to keep on watchlist.
Comment: 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.

I sold my positions today, P&L: 55%+
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