JCPenney is now a penny stockCNN 12/28/2018
As markets open this morning, shares of JCPenney are valued at 97 cents. It’s the first time since the 110-year-old company went public that its stock price has dipped below $1. Penney has not been profitable for the last eight years. The retailer’s stock has dropped 68 percent this year, and almost 30 percent this month. Investors are more than a little concerned that the company is carrying a $2.1 billion debt load, due for payment in 2023.