Stock world vs real world
To me, it is no surprise that JCP got smacked after hours. JCP has a huge run based soley on the fact that Ron Johnson took position of the company. But do you know anybody who all of a sudden got excited to shop at JCP since he took over? Did any consumer care? Do you even know anybody who likes JCP?
Just an example of how investors can forget to check the actual company, rather than the stock.