Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[Smilin_B]

No sorry I have no knowledge of the JCPenney bond structure. I also have no concept of how they can fair value the common shares when months ago they stated that the common stock would be canceled and worthless. It would be interesting if these companies were honest with Wall Street and shareholders.

Can JCPNQ run from here to over $1/share as shorts have no choice but to cover? Well I saw it happen with SHLDQ (Sears Holdings).

Then again, if it was previously mentioned in articles from a couple of months ago that the common stock would be worthless post BK emergence, then why are we trading from 11 cents a share yesterday to 21 cents today?

Has to be short covering and momo created from all the volume because when this thing reverses Trend, it typically performs a pretty solid up move with very mild retracements.

So i think " the powers-that-be" will allow JCPNQ to trade while all of this uncertainty takes place. And I'm a big fan of the free market where are they need to just let stocks trade on wild speculation as well as facts. But the fact remains that nobody can fair value the common equity of a company that just emerged from bankruptcy protection play previously stated that the shares would be canceled and worthless.

It certainly is a head scratcher isn't it?