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.

Image source: Getty Images.

Source Fool.com