JCPenney is now a penny stock
December 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.
Recent News
TikTok Suspends TikTok Lite Rewards Program in the EU
A TikTok service offering rewards such as gift vouchers for watching videos has been suspended by the social media site.
FCC Votes To Restore Net Neutrality Rules
The Federal Communications Commission (FCC) voted 3-2 on Thursday to reinstate net neutrality rules that were rolled back during the Trump administration.
Blackstone To Buy Tropical Smoothie Cafe
Alternative asset manager Blackstone is set to buy the restaurant chain Tropical Smoothie Cafe.
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.