J.C. Penney Co. Inc.’s stock is testing lows it hasn’t seen since 2000 as the company continues its search, not just for an operational turn around, but financial stability.
The stock fell as much as 16.6 percent to $9.93 in morning trading today — a level not seen since October 2000, when the market was still reeling after the dot-com bubble burst. As of 11:50 am on Wall Street, the stock was down 11.60 percent to $10.52, giving it a market capitalization of $2.32 billion. Nearly 61 million shares had traded hands, well ahead of the 18.8 million daily average for the last three months.
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