This upcoming , 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.
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.
Will have to keep on watchlist.
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%+