J.C. Penney Company, Inc (NYSE:JCP) has been warned by the NYSE that it faces delisting from the exchange as JCP stock continues to tumble.
The struggling American department store chain, which has 865 stores in the US and Puerto Rico, has seen its share price trade below $1.00 for 30 consecutive days, which represents a failure to meet NYSE criteria. The company has announced it will pursue measures to attempt to correct this to continue to trade on the exchange, which includes a possible reverse stock split. JCP stock is currently trading at $0.55, which is ...
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