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J. C. Penney Company, Inc. (JCP)

NYSE - Nasdaq Real Time Price. Currency in USD
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0.18190.0000 (0.00%)
As of 4:00PM EDT. Market open.
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  • B
    Bijuu
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  • P
    Philip
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  • j
    james
    No Stephen. I was long JCP 2 years ago. Never shorted a stock. Not my game. It just blows my mind how there are still share holders hanging on till the bitter end. If your a trader, then that’s your game, you know the risk. But if your long! Why???? I have a feeling a lot of people bought shares when it ran up to 80 cents a few weeks ago. It has now fallen below their buy in. I am afraid their going to get burned. As soon as share holders come to understand that the Secured lenders are in control. That their is no deal pending that even comes close to their debt being paid. This deal will go thru. If not the cost to continue will be to much. This will lead into liquidation. No one wins in liquidation. At least with the current deal 600 plus stores and roughly 70,000 employees keep their jobs. That’s why I am on here. Pulling for stores and jobs going forward. Couldn’t care less about short or long shareholders. I have seen BK many times over the years. Not pretty! Yes, I too find these message boards entertaining, and I do feel bad for those shareholders that bought in on that last push to 80 cents. I am pretty sure some day traders capitalized during that move.
  • j
    james
    Tuesday Morning Corporation BK was given the go ahead to form an Equity Committee. There is evidence that there are several interested parties to purchase the assets and that there is evidence of monies for equity. Not the same for JCP. JCP has to much debt, only one deal available, and that deal still doesn’t cover the long term debt. Until that debt is fully satisfied and all unsecured debt is satisfied, there will be no dollars for equity. I can’t see the Judge allowing this to drag on and cost millions of dollars. That defeats the whole process. Shareholders do and or did have a choice to get out or stay. I am sorry!
  • j
    james
    If this was such a good deal and a possibility of going higher and shareholders making money. Don’t you think there would be bigger names buying the stock. Brokerages would be pushing their clients to purchase stock. Gut to get real people. I really feel bad for long term holders. But you had to see this coming. Short term get rich players, that’s your game. You know the risks.
  • j
    james
    Sorry to say. The EC will not have its own committee. Their valuation of the company is completely out of touch with reality. @$!&? I can say that my house is worth a million dollars, where as the market value will be 1/3. The Judge is not very happy with the equity committee and its attys. They did the opposite of what was requested. He told them that the $250,000 was for education in a chapter 11 BK. That the money was not a war chest to start a war. When an equity holder ask a question last week about the purchase of JCP. The judge said if this didn’t go through, JCP could be liquidated. From day one, it’s about keeping as many stores open and employees working. That’s the facts. If your holding this stock for a miracle, I am truly sorry for you. This deal doesn’t even cover the secured debt. Nothing happens unless the secured lenders say so. They call the shots. For them JCP is better with doors open, than closed. They have a better chance of getting their money back in a few years of successful operations. Key words are Successful Operations. Time will tell.
  • R
    R
    Barb VERY TRUE! ...." traders and investors do not read Yahoo Finance.". It's an entertainment site, just as all Yahoo sites are.
    I am here for entertainment, as I am neither an investor nor a trader with JCPenney. Otherwise known as "no skin in the game"
  • j
    james
    I can’t believe that long term shareholders that own large amounts of stock, and held onto their stock at this stage of the game. Unbelievable! Should have cut bait and ran a very long time ago. Taken profits at some time and lessened their losses. I feel bad for shareholders. But, they gambled on the outcome, and not on sound financial thinking. Especially when BK was announced. Whether JCP filed when It did or filed today or files in 6 months, it was bound to happen. The burden of the debt was, is and would have been to much to overcome.
  • R
    R
    james@ Over the years, many have said: "If you seek to invest in risky stocks, only risk what $ you can afford to loose"
    ...as such there are numerous JCP/JCPNQ readers and OTC traders who can afford the losses, so they continue to hold.
  • j
    james
    Docket 1425 is nothing more than the equity share holders asking for more than the $250,000 to attys. The judge has already stated that the $250,000 was to educate, not a war chest to start a war. The judge has shown his displeasure with the equity shareholders attys. They did not do as they were requested to do. $8.5 billion, talk about creative math. Because of how this situation was handled. the judge isn’t going to set a separate committee or allow any more cash. The secured first lien holders are in charge. That’s why this deal is going through. If there was a better deal, it would already be announced or at least leaked. Any more dollars added to this deal is going to secured lenders. No one is going to pay a premium for JCP.
  • t
    titan
    Official Equity Committe approved in a Chapter 11 case in Texas, yesterday 9/18/2020. Next up JCP..

    https://document.epiq11.com/document/getdocumentbycode/?docId=3779717&projectCode=TUE&source=DM
  • R
    R
    Charles@ According to Commercial Real Estate media, traffic as most every mall in the US is down sharply. With the recent end of government stimulus checks, many low income households can barely afford groceries, rent or utility payments. Lower to middle households are the largest portion of JCPenney's traditional customer. They are NOT shopping frequently...many not for months. Thus real estate values have fallen. The likelihood of the Corona virus to continue and possibly grow thru early 2021 is seen more possible as data is recorded.
    Just where are you getting the info that retail space is growing in value? Or, you are just making that up! Real estate media along with Barron's, Bloomberg, and Kiplinger's has been writing otherwise.
  • G
    Gabriel
    I can guarantee Judge Jones denies the request for a EC at the hearing. Not bashing holders that are in this until the end. But he has made it clear numerous times he doesn't believe in one. The only thing he believes in is his misguided desire to save jobs, and those will be wiped out after this HORRIBLE shopping season. All brick and mortar stores will have terrible numbers this holiday season. Even the UCC is fighting to just get very scrap left by the first lien holders. With the UCC getting literally nothing, there is no chance for a official EC.
  • T
    THU
    Good morning,
    Don't let shorters scare you.
    JCP will get out Bankruptcy soon.
    Stay long and hold your shares and we will get reward for trust 100 years company
  • M
    MazyDay
    if it ever reaches $1 again, I'll buy you all a taco. safe bet for me.
  • j
    james
    It’s one to hang with a company that’s not going through BK. BK is not just a stock going through a little trouble.
  • G
    Gabriel
    Here we are thru another day of trading in the red. Economy is imploding from COVID, and will only get worse as the weather changes. States are reporting increases again in the virus, which means restrictions in shopping this holiday season. Brick and mortar stores will fall faster then the leaves of Autumn. But you desperate holders continue to blame shorts for this gowing down in flames. Your all about to get a reality check on why most of you should not be trading in stocks. Soon the judge will deny and squash the EC request, and what excuse will you have then? This is the way!!
  • L
    Lancer2k
    Riddle me this...why does @gardener have such a fascination/fixation with R?
  • t
    titan
    Substantive letter Docket #1235 which addresses obviously higher valuation for JCP assets.
    EC members and share holders would want to sway the Judge's mind stating that JCP assets are much higher than what is declared to BK court and Debtor is purposely hiding it to harm equity class.

    I doubt Judge would ram this process at "lightning speed" , totally ignoring equity holders.
    Official EC or atleast higher budget for Adhoc EC will be approved, imo.
    UCC should withdraw their objection for official EC since higher value for estate is our common goal.
  • B
    Barb
    There is considerable misinformation on this board re the JCP bankruptcy.
    CONSIDERABLE
    Read more below ...
    ....

    (1) Simon/Brookfield have agreed to acquire J. C. Penney.
    (2) J. C. Penney has agreed to be acquired by Simon/Brookfield.
    (3) There are no competing bids.
    (4) Authentic Brands is considering a partnership with the Simon/Brookfield acquisition.
    (5) Amazon is considering leasing vacant JCP space should any become available.
    (6) Beware of posts referencing considerations (months) prior to Simon/Brookfield/JCP Agreement.
    (7) The Simon/Brookfield/JCP Agreement provides for no equity for the current shareholders.
    (8) There are no competing bids. [To reinforce point #3 for the super-dense.]
    (9) BUT there could be competing bids.
    (10) The Simon/Brookfield/JCP Asset Purchase Agreement (APA) is an arranged "stalking horse bid".
    (11) JCP will ask the Bankruptcy Court to conduct a Section 363 Auction.
    (12) The auction is to be completed prior to the start of the "2020 holiday season". (The National Retail Federation defines the Winter Holiday Season as November 1 to December 31.)
    (13) The APA was negotiated by Simon/Brookfield to discourage counter offers. [See Note below.]
    (14) Authentic Brands has been discouraged (see points #4 and #6).
    (15) The details of the Simon/Brookfield/JCP APA came from intensive exhaustive financial research with unnamed sources not available to the public through personal contacts known only to me.
    (16) Point #14 is a pure fabrication - like many of the posts on this board.
    (17) The source of Simon/Brookfield/JCP APA came from ...
    ... [drum roll] ...
    a J. C. Penney Press Release.
    (18) Please read the 9/9/2020 J. C. Penney Press Release.
    -----
    -----
    -----
    NOTE: The initial bid of a "stalking horse bid" auction is typically designed to discourage future competing bids. Although it has had initial success (see Point #14), it may not be ultimately successful. Or it may be.
    Time - and 29 cents per share - will tell.