I just love the "imminent BK filing" reports from "undisclosed sources" ... Sounds like MSNBC reporting going on even here... LOL
All I know is what I know and see. Yes I am longtime shareholder. Yes we shop a lot at JCP. Yes we have stopped 95% of Amazon shopping too. Anywhere I go (prior Covid fear) JC Penneys were very busy. Now malls are opening up again and JCP is doing like others under their States' laws to do so...
if I am right, then I will make a lot of money with JCP investment in time. if I am wrong, it will simply be used as tax writeoff anyway to offset my tax obligations so again, it is basically another tool in my toolbox if you will.. I still will go on living, eating, working for my money (not asking for handouts & freebies).. Life will go on.
JCP has about $8 Billion in assets. JCP has like $1.3 Billion in equity value. I am a long term type investor. NEVER shorted a stock because it makes no sense from standpoint as a business or owner of one as I am. I have a LOT of shares and I guess overall cost average is around $1.00 to date now.. I have a portfolio of many stocks, so JCP not my only "investment", but a substantial one... But point is, this can see market halted at anytime on a filing or news release, when opened, this could rise $5.00+ in no time either. LOOK at Institutionals even. Black Rock being largest shareholder. Just a lot of things going on here. I guess we will see...