JCP reached new 52 week lows today and is finally immediate-term TRADE oversold just 2 days prior to the 1 year anniversary of JCP’s biggest hire in history.
With the seismic shift in JCP’s pricing strategy that has left consumers scratching their heads coupled with underappreciated capital investment required to ultimately bring RJ’s vision to life, there’s little to support the stock here over the intermediate-term. It will likely be a while, perhaps a long while, before we revisit the $29.92 strike price at which RJ’s warrants are struck. Lucky for him, he has 5-years to get there. Unfortunately, investors typically operate under a far different duration.
Today, we wouldn't touch it on the long side until it is a mid-teenager.