Why J.C. Penney Stock Was Sinking Today
Shares of J.C. Penney (NYSE: JCP) were diving for the second time this week after the struggling department store chain received a warning from the New York Stock Exchange for being out of compliance with its standards. The NYSE requires companies listed with it to have an average trading price above $1 over a 30-day trading period.
Penney's stock fell below $1 on July 19, and has stayed below the key benchmark since. Today, it fell another 12.1% and was trading at just $0.61 as of 11:58 a.m. EDT.
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Source Fool.com