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SO if you own CPPRQ as of today your money is gone and shares are gone?
They appear to be. They may continue to trade as they are not a security of Old Copper directly. They are a derivative security of the unsecured notes. Those notes are now worthless and the underlying debt expunged. Plenty of tickers that can trade with absolutely nothing behind them.
Why and How could they just wipe this stock? This does not make sense? Anyone find it fishy this was up 40% a couple of days ago? This can not be true makes zero sense
IS this FOREAL? They cant just make people lose their investment like that? There are stocks trading with no business, there are billions of assets here
Are the debentures still trading? Like I've said before, RadioShack bonds seemed to have traded for weeks and perhaps months after the common shares were cancelled.
Yes...they will get reversed for errors like if a broker/dealer executed a trade on a stock AFTER it was suspended by the SEC.
But there was no error here. FINRA cancelled the stock at 9:49 am. Trades before that won’t be reversed.
Did you dump out before the trained chimpanzee pulled the plug?
In the many BKs I've followed over the years, trades that go thru due to Finra or exchange error get reversed. IDK about this situation. Haven't followed it closely.
My main point is that retailer common shares haven't survived a BK in the last 25 years. Not in any meaningful way. Pros are long gone from the late great JC Penney.
“The court action controls,“
It doesn’t control trading...FINRA does.
Shares getting cancelled that was a big "OUCH"
The court action controls, I believe. Also like I've been warning, the last trade was at a pretty high price (~12 cents), not .0001 like some expect.
COTRP shows at 50% off. Still trading I think.
No they won’t. At least any trades before 9:49 am as that is when FINRA’s action (not the Court’s) became effective.
But early trades this morning after court action may be reversed. Nice pop for awhile today. Bet the chart looked good to some hair trigger buyers.
Like I've often said, the final minutes are the most fun. Kinda like basketball.
It was actually cancelled just after the market open today...so there was trading early in the day until it was cancelled. So that will show activity for the the day despite it now being cancelled.
Several Players on Yahoo trying to figure out what happened to their recent Old Copper buy. Reddit players wondering why their group pumping isn't panning out. LOLOL!
Yahoo shows stock up 3.6%... but cancelled!
They had to until the bankruptcy plan went effective since Propco wasn’t closed at the same time Opco was.
Lolol amazing this ticker was even created
~ Finally The Commons Get To RIP ~
CPPRQ SHARES CANCELLED.
https://otce.finra.org/otce/dailyList?viewType=Deletions
Bankruptcy plan effective
Noted and once again Incorrect
Have you received your divi yet? Tia
$cppr $0.1226 ^ 0.0026 (2.17%)
Volume: 4,354,620 @01/29/21 4:00:48 PM EST
Let’s hope so...nobody can say not even one ticker can’t be shorted I don’t care what it is or what exchange these big hedge funds are tied up in everyone of them The money is just too lucrative even down here in Penny land... which is why you see so much resistance...
Long squeeze continues RIP COMMONS
Short squeeze sooooooonnnnn
RIP COMMONS Shorting this pos saved many from losing their azz from higher prices. Poor sears I shorted it at 43 bucks. Tell me I was wrong?
LOL I can feel the warmth and hear the crackling all the way from here.
Oh I’m loving this news all the years I’ve been told that there was no such thing as shorting it’s all a figment of our imagination we are go ask Melvin hedge fund that just lost 20 billion if all this is a fantasy LOL
Good to hear what’s going on shorts are being burnt down to the ground forest nice it makes me feel real good inside...HaHaHa...
Debt Jubilee coming, all currency worthless, buy bags of pre-1965 90% silver dimes, quarters, and halves.
US media and global media in uproar this morning realizing what Naked Shortselling is about !!! FINALLY, after years and years of its abuses on companies like JC Penneys and others.
Investigations being launched including into I-Hub and other Forums and the public finally is realizing what has been going on out there far too long... May well mark the end for CNBC too IMHO...
Reddit WallStreet Bets + COTRP
Could be the next game stop
Have you not been paying attention? Those twits from Reddit are pumping all of these dead or dying stocks. Some people are getting rich, most are going to get burned bad.
What is going on here? Why the spike? Not complaining but something is happening!
Yup. There are a a few things coming up on Jones docket for this in February
Any Bond Holders left on here? I still have COTRP and CBJCL. Fidelity still has no info for me, I guess we are waiting for PROP-CO sale to close?
Noted and Correct! ~RIP COMMONS~
This is the same company. They changed the name of J.C. Penney Co. Inc to Old Cooper Co. Inc so there would be no confusion as to the name and brand which went with the asset sale. You can’t have two JC Penney’s.
The old company still exists (now as Old Copper CPPRQ) until Propco closes which will be the last of the assets being sold out of the old JC Penney. When that happens and the POR goes effective this stock will be cancelled and the company dissolved.
Because they don't want scammers trying to con people in to buying the stock thinking it is JC Penny's. This is a common after a 363 sale. Same thing happened with Blockbuster and Circuit City.
As a subsidiary liability or trademark
Just saw new name on my IH - Is this a spin-off? Does the old JCPenny's still exist?
crazy
e
JCP was too proud a name to watch it die like that.
What was the point of even creating this series of stock? If it's going to go to zero
I love it when they (monkeys!) fat finger trades!
Death crush to zero as the trained FINRA chimpanzee is looking for the plug to pull.
Today may be the last time a dime is ever seen.
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JCPenney Company, Inc is an American department store chain with 865 locations in 49 U.S. states and Puerto Rico. In addition to selling conventional merchandise, JCPenney stores often house several leased departments such as Sephora, Seattle's Best Coffee, salons, auto centers, optical centers, portrait studios, and jewelry repair.
Most JCPenney stores are located in suburban shopping malls. Before 1966, most of its stores were located in downtown areas. As shopping malls became more popular during the later half of the 20th century, JCPenney followed the trend by relocating and developing stores to anchor the malls. In more recent years, the chain has continued to follow consumer traffic, echoing the retailing trend of opening some freestanding stores, including some next door to competitors. Certain stores are located in power centers. The company has been an Internet retailer since 1998. It has streamlined its catalog and distribution while undergoing renovation improvements at store level.
J. C. Penney introduced its own private brands when some suppliers denied access to the expected inventories.
On October 2, 2018, JCPenney announced former Jo-Ann Stores CEO Jill Soltau as their CEO, effective October 15, 2018. With the announcement, JCPenney's shares rose 9%.[69] The company ranked 235 on the Fortune 500 list of the largest United States corporations by revenue.
On December 26, 2018, the stock price of JCPenney (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.
On February 6, 2019, JCPenney said it would stop selling major appliances on February 28 "to better meet customer expectations, improve financial performance and drive profitable growth." It will continue to sell furniture online and in Puerto Rico stores—but not anywhere else. "Optimizing the allocation of store space will enable us to prioritize and focus on the company's legacy strengths in apparel and soft home furnishings, which represent higher margin opportunities," the company said in a statement.
On February 28, 2019, JCPenney announced its intent to close 27 stores in 2019, including 18 full-line department stores and nine home-and-furniture stores. The closure announcement was paired with news that the retailer had suffered a 4% decline in same-store sales during the 2018 holiday quarter.
On March 26, 2019, JCPenney announced the hiring of Bill Wofford as Chief Financial Officer. Wofford came to the company from Vitamin Shoppe, where he had served as CFO since June 2018.
On May 21, 2019, JCPenney announced that Shawn Gensch will be their Chief customer officer to take effect on June 3, 2019. Gensch comes from Sprouts Farmers Market where he was their CCO. Also on May 21, JCPenney announced a net sales decline of 5.6% and a net loss of $154 million for its fiscal first quarter of 2019, which ended on May 5.
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