Keith just re-shorted JCP again in the virtual portfolio managing near-term risk around a very high conviction TREND and TAIL short idea. There is no change to our thesis on the name.
At $1.60 for the year, we remain 10% below consensus and bearish on the stock over the intermediate-term.
For more info on our thesis, see our Black Book, “JCP: What Ackmanists Are Missing.”
