J.C. Penney Company, Inc. Surges: Here Is The Trade
J.C. Penney Company, Inc. (NYSE:JCP) is surging higher today after the company affirmed positive growth in sales in the coming quarter. The stock is trading at $7.43, +0.64 (9.43%). The obvious way to trade this stock is to be long. I alerted to buy long last week when key indicators flipped to the positive side. The entry was $6.70. I said that any good news would see an epic short squeeze back to $9.50, just below where Goldman Sachs did the secondary for the J.C. Penney. The stock is already on its way.
Bottom line comes down to the huge short position in the stock as a little positive news trickles out. This will drive the stock price far higher than its current level. This was one of the most obvious stocks to buy last week. We hope you were smart enough to buy it.