Boston, MA 12\/27\/2013 (wallstreetpr) – Investors have been very patient with J.C. Penney Company, Inc. (NYSE:JCP)<\/b>. They seem to hold onto the hope that the retailer store will one day, and very soon, get back to its profitable levels. However, in recent times, investor fatigue can be seen in the stock.<\/p>\n
J.C. Penney Company, Inc. (NYSE:JCP) burnt its figures when it attempted to raise its standards to an up-market store. In attempting this status upgrade, a lot of shoppers felt alienated and left for other retailers. This happened when the company had spent a lot of money in its modification and sales figures could not support the envisioned growth.<\/p>\n
Hedge funds supported move<\/b><\/p>\n
When things started spinning out of control, hedge funds did not jump ship. In fact, some bought more of the stock and found their way to J.C. Penney Company, Inc. (NYSE:JCP) board in order to engineer the desired change. In doing so, Mr. Ron Johnson was ousted as CEO and Mr. Mike Ullman was brought back as part of the change, in order to spearhead the company\u2019s turnaround.<\/p>\n
However, as the turnaround drags on, hedge funds that were once bullish in the stock have been either resizing their hold or backing off altogether. J.C. Penney Company, Inc. (NYSE:JCP) suffered a PR damage this month just when it started to report sales growth in two consecutive months after a very long period of sales decline. The PR damage was due to the action of Kyle Bass\u2019 Hayman Capital, one of the hedge funds which supported the company\u2019s turnaround efforts, but which dropped the stock this month.<\/p>\n
J.C. Penney Company, Inc. (NYSE:JCP) in disarray<\/b><\/p>\n
The fact that hedge funds that once supported the company\u2019s turnaround efforts are jumping ship one after the other is a worrying trend. It is even more worrisome considering that a lot of everyday investors have been tracking their activities to make investment decisions in the stock.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 12\/27\/2013 (wallstreetpr) – Investors have been very patient with J.C. Penney Company, Inc. (NYSE:JCP). They seem to hold onto the hope that the […]<\/p>\n","protected":false},"author":32,"featured_media":7743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[2236],"tags":[1753,685],"stock_ticker":[],"class_list":["post-13247","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-j-c-penney-company-inc-nysejcp","tag-nysejcp","entry"],"acf":[],"yoast_head":"\n