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Our store just opened again this week! Pretty excited to go shop again there!
They will cancel it to reissue new shares of new JCP. Totally different from what Sears did
The main wording to me is in the RSA it states "the issuance of New JCP common stock" not the creation of it.
Yes old shares would be worthless. The only way old shares are worthless is if they cancel the old shares. It goes on to say the issuance of New JCP stock. If it were just going to be created and not issued to people then it would just be the creation of New JCP stock. The only way to issue new stock and make the old stock worthless is to cancel the old stock and issue the new one. Otherwise they could issue new stock and still continue to let the old JCP stock trade which would mean it's not worthless. It would be worth trading value
I'd have to read it all again. Dont have time right now. It was in one of the individually submitted graphics I believe. It didn't come out and say all shares would be transferred but it eluded to it that new shares of JCP would be created and distributed.
Did you not read the rest of it that talks about the transfer of shares into new JCP?
I didn't buy back either. Lol I held my shares till somewhere in the mid dollar range and got out with my profits and called it good. I did miss out on some but I'm ok with that. It just amazes me. This has so much better potential than Sears but can't even get it to budge
I bought Sears at .17 and it went well over $2. Made some good $$ on that one
Dang JCP. Well guess I'm screwed here. There goes my perfect record. Bound to happen sometime.
All I know is if Bezos is buying, we should make him pay top dollars for our shares!!
Lol I'm seeing JCP at 4.70 lol. How I wish that were true
Honestly if this deal is legit.... I wouldn't expect this to trade at all until the deal is complete. They are going to want to limit the ownership of the stock. And well the way things are looking it looks to be the case here... we'll just have to wait and see. Looks like things are moving quickly
Amazon Is Said To Be In Talks To Buy Bankrupt J.C. Penney
https://www.google.com/amp/s/finance.yahoo.com/amphtml/news/amazon-said-talks-buy-bankrupt-065505605.html
My wife is gonna kill me if I just lost all my money invested on this thing. Lol.
My guess is there is already a deal and they are trying to finalize it quickly. Idk we'll see. This is definitely a weird one. Especially the whole judge on Saturday event. Someone with influence is definitely in play here
I wouldn't be surprised if trading gets halted again today for some reason
Jcp and Amazon is all over the news this morning
This would make sense for them to move quickly to create a new stock and reissue shares.
I hold by choice. I could have sold many times but haven't.
The more I see how quickly this is moving, it makes me think an entity is going to buy this out. Quickly file for bk, quickly an entity swoops in and takes over, quickly the stock becomes a new one with new ownership. Idk. This is just so weird.
Never. Everything is happening faster than normal. Which makes me wonder what the bigger plan is. It seems they are doing this quickly to try to resolve it before more traders get in on the action. It seems to me they are purposely trying to limit the trading as much as possible. Something bigger is definitely at play here.
Yes!!! So after this new loan and all my JCP is opening up this week!!!! Sweet!!!!
Everyone already knows what they are in to here. At this price reward outweighs the risk imo
I wonder if their will be a filing after hours about who it is
Someone's accumulating massive amounts
Nothings changed for me. I'm buying and holding
I think JCP will take care of its shareholders through this whole mess
"A corporation creates a spinoff by distributing 100% of its ownership interest in that business unit as a stock dividend to existing shareholders. It can also offer its existing shareholders a discount to exchange their shares in the parent company for shares of the spinoff. For example, an investor could exchange $100 of the parent’s stock for $110 of the spinoff’s stock. Spinoffs tend to increase returns for shareholders because the newly independent companies can better focus on their specific products or services."
https://www.investopedia.com/terms/s/spinoff.asp
Gonna be lots of buys Monday with the news that came out this weekend! I hope I can get some more cheapies!
Jcp moving quickly on this cause theres a bigger plan then what has been released. Will see soon!
Awesome news!!! Buying More Monday!!!
Looking good here! Dollars coming!!!!
Can't wait! Release the news Jill!!!
Sources close to the company say its gonna be a green day!!!!
Theres nothing to look up. Lol I am rolling right now. Let's go JCP come on Jill release the real news!
It's really simple. Real news would be released from the company or have a real source. Fake news hides behind words like someone close to the company. Which usually means someone who is shorting the companies stock. Lol
That is not a PR rofl that is fake news with no sources because shorts are scared lol
So funny to watch shorts squirm and grasp for straws! Sorry you drew the short one this time !!! Lol
Trying to manipulate pre market cause they know where this is heading!
Looking good this morning! Shorts freaking out! Onward and upward!