Saturday, August 3, 2019


JCP FACING REMOVAL FROM NYSE, RUMORS OF BANKRUPTCY, AND TRUMP'S TARIFFS ON CHINA LEAD TO FURTHER PLUNGE OF JCP AS A PENNY STOCK

In two weeks if JCP stock remains as a penny stock under NYSE rules it will be removed from trading.  It started with rumors JCP hired advisers for debt restructuring.  JCP denies the claim or any prospect of bankruptcy.  Then after Trump announced new tariffs on China, JCP's stock plummeted further because of the impact the tariffs will have on their clothing lines.

The stock stands at 72 cents.  

LOCALLY

The JCP manager was transferred to a smaller store in Edinburg, and the Harlingen manager is coming to Brownsville.  The Brownsville store lost nearly all of its assistant managers after the last manager was brought in.  That manager is now off to Edinburg.

Is the City of Brownsville prepared to see JCP close?




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