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If Okin has found some super secret hidden values then this could go to dollars. I doubt that will happen though. All he has stated so far is there is long term value. Sure there is! For the new shareholders of the new JCP! Doesn’t mean there’s any value for us right now. In fact the EC has said multiple times they see no equity for shareholders in any of the plans.
It’s not just the fool it’s also in the court filings. Some people like to cherry pick things but it clearly states it right here
https://cases.primeclerk.com/jcpenney/Home-DownloadPDF?id1=MTU5NjE5NQ==&id2=0
Well I don’t see the good news part. Is it the part where the company spends more money in legal fees to take away from equity? Or is it good news cause it gives them time to get rid of more bidders and drive it into liquidation? Good news that they said there is no equity for shareholders and we will get nothing and will further get nothing the longer this goes on? Good news cause we want JCP to waste more money on an EC that says it sees no value? I mean.... I guess I don’t get what good news is....
Some think liquidating the company is some how good for shareholders even though everyone in the EC and JCP say it is not.
Trading this stock when it goes up and down makes sense. Continuing to claim there is equity for shareholders when everyone has been told from the EC and JCP there isn’t makes 0 sense. At least keep the posts legit and post factual information for potential shareholders
It’s in black and white on all reports from EC and from JCP. Smh. The only thing the EC has said is that they believe there could be long term value. That does not matter right now. They would have to prove there is something now and was something before BK. Unfortunately both the EC and JCP have said multiple times they see no equity for shareholders. Zero. None.
The EC has stated multiple times they see no equity leftover for shareholders under any of the plans. Smh. Where on earth are you finding equity for shareholders that the EC and JCP can’t find?
Rofl it is literally in writing that there is nothing for investors both from JCP and the EC. So... tell me how they are getting paid?
But the ones with fancy degrees are making the decisions not the shareholders without fancy degrees? So... I’m.... how is it at all possible for shareholders who have no control in the company to make the ones in control do anything? Makes no sense.
JCP says no equity for shareholders. EC says they see no equity for shareholders. Yet some shareholders somehow still think there’s invisible equity that all these professionals aren’t seeing or saying is there? I don’t get it.
Correct. I’ve said it a hundred times. The longer this goes on the worse it is for commons to see any kind of compensation. They are purposely drawing this whole thing out just to waste money and make their argument that there’s nothing left for shareholders at this point. EC filed their rebuttal too late imo
Anyone ready to understand what shares really are valued at should read this
https://cases.primeclerk.com/jcpenney/Home-DownloadPDF?id1=MTU5NjE5NQ==&id2=0
Take some time and read this that was just put on the docket. Let it sink in real good.
“The Court “may” direct the appointment of an official equity committee if doing so is “necessary” to “assure adequate representation” for shareholders. See 11 U.S.C. § 1102(a)(2). Respectfully, this is not a case where another official committee is necessary or appropriate. An official equity committee would do nothing here but add cost and distraction where adding either could undermine an already fragile process and risk the loss of the 70,000+ jobs that the Debtors and their advisors are doing everything within their power to save. The reality of the Debtors’ situation is clear: the Debtors cannot refinance their first-lien debt, nor can they force their first- lien creditors to take equity, and in any event ultimately the market—not the self-selected, far- fetched metrics invoked by the AHEC or anyone else—will determine which JCP stakeholders are in the money. All real-world indicia suggest that shareholders are not even close.”
No reason to look at that or anything real. Just play the momo. Woooooo!!!!
Amazon has never been proven as a bidder. Simon is buying the stores with plans to put companies like Amazon in them. Never once has Amazon said they were buying any part of JCP outright
The only thing good about yesterday is those that did buy will help this stock go up nice and easy if the news is good for shareholders.
This is true and good or bad we may find out this weekend. Good luck everyone
Hmmmmm if so then that would mean Niko released that memo to try to warn people... I suppose it could go that way too.
Oh no. Some real talk on this board. I spent all day yesterday being insulted only for everyone to see I’m right. Prove this wrong. I think an investigation need to be done on Niko and his EC partners over the last two pumps
Hopefully some people are listening cause I’m as unbiased as it comes. Completely wrong to have helped trap people in at high prices yesterday. This has happened multiple times already. Either Niko or one of his buddies has to be behind this. It’s too coincidental that they keep releasing the memos right after the pumps.
Why don’t you ask Niko how many shares he sold. Seems pretty obvious he released that memo to cover himself after pumping fake information. Sold shares on the pump then released the memo so if it ever came back at him he could say we told them over and over there’s no equity for shareholders. It’s funny to me he himself has said it in multiple memos to shareholders and yet some how people are using his posts to pump this stock. No doubt he sold shares on yesterday’s pump. Heck he may have even paid for the pumpers to run it up before the bell knowing it wouldn’t last. Even I knew it was a pump trap
It was also just speculation that this would run up then go red huh? Lol. Wow.
Exactly. Smh. Can’t believe all the ridiculous false things being said in the last 24 hours.excellent write up of what’s really happening
Man I hate seeing this happen to people. I only hope I saved some from this pump and dump scam pulled today
Tried to warn people this was a promo pump from someone holding a lot of shares and trying to get out.
Straight from JCP stockholder update!
“In describing the general economics of the transaction, Debtors’ counsel represented that the purchasers would be writing a “$300 million equity check.” Contrary to certain comments received since the status conference, please be aware that this representation does not refer to a $300 million payout to old equity. Rather, this means that Simon and Brookfield are paying $300 million for new equity in the reorganized JC Penney entity. Based upon the limited description of the deal terms announced today, the proceeds of this transaction are not expected to provide any return to existing equity interest holders. Until we see the Letter of Intent, however, we cannot be sure what effect the proposed deal would have on the value of existing shares.”
I don’t mind this run at all. But not going to entertain the false narrative pumpers are using.
It was clearly stated that JCPenney stock is worthless. It has been reiterated in filings. There has been no filing whatsoever that says Shares will survive. 0 . None. Zilch
Not negative just being real about it. There is still 0 assurances for common shareholders. Nothing has changed at all for any of us that have been here. Don’t understand all the fake information out there that it has.
Right. Just like Lambert was the stalking horse bidder in Sears and left commons in BK after “saving Sears”. This is no different
You just showed up. Thanks for proving my point
Look around. Some are coming and going. Even this latest pump is obvious. They all show up claiming this was a game changing court hearing and proof that commons are saved. This is the day they say and yet absolutely nothing new came out of the court hearing that we didn’t know. Yet for some reason. There is a new surge to convince people that there is something great happening here. Meanwhile those holding millions of shares that have been trying to get out start dumping them right after these wonderful game changing days. Then they disappear again till the next time they want to make mountains out of mole hills. Lol. Absolutely nothing new came out of the court hearing yesterday.
Not JCP necessarily but there’s definitely some traders that are
We’ll see but based on past experience those trying to get out have been dumping right after the pumps and driving the price right back down. Then they blame it on shorts. Lol.
This is exactly correct. There was absolutely nothing that was said today that changes this. Matter of fact the articles I read talk about JCP having to open up a separate account altogether which leads me to believe this will end up like Lambert “saving” Sears and leaving shareholders in BK. Nothing said provides any relief for shareholders and probably why the judge would not allow anything else to be said.
Actually it is read investors post. He describes it in detail. We already knew about this and it was already determined it was too low of an offer to begin with. Those who have really been following JCP and the media already knew this info
We’ll be ready cause there’s a bunch of people who have been tryin to get out. This might not go like you think. Especially since this is all news we already knew
I had a tooth pulled and am medded up yet I can still see what is happening with this deal right now is not good for us common shareholders. Smh
Oh I get that but no reason to make stuff up. I mean I come on here for info and there’s all this chatter of some game changing event and I find it’s the same stuff we pretty much already knew. Simon is buying properties. This has been known since a couple months after the BK filings. Then I keep reading about the yelling matches and I picture the EC yelling no way! Shareholders will be screwed on this deal! Then I see people saying this is a good thing?! What?? Huh? Where is this game changing event??
Right? Everyone saying this is some kind of new news? This is nothing new just confirmation on what we already knew. Craziness. Definitely more info on the way and my guess is EC is part of the yelling match not agreeing with the deal. Yet some on here think this is a good thing?? If the EC doesn’t think it’s good why would any common shareholder?? Definitely a better deal could be worked out