Has J.C. Penney Finally Hit Rock Bottom?
J.C. Penney (NYSE: JCP) has burned many investors over the past three years as its stock lost over 90% of its value. Yet the decline repeatedly attracted bottom-fishing investors who believed that the retailer could eventually recover.
All those investors caught falling knives, and the stock rests near an all-time low, well below $1 per share. However, J.C. Penney's stock recently rallied slightly after faint flickers of life appeared in its second-quarter report. Let's see if those improvements indicate that J.C. Penney's stock has finally bottomed out.
Image source: J.C. Penney.
Source Fool.com
