J C Penny Company Inc (NYSE: JCP) is having an overwhelmingly strong start to the year in today’s trading session. However, with no news out from the company, what’s really causing the move? We’ve done some digging and we believe we’ve found the cause. Today, we’ll talk about what’s happening, what we’re seeing from the stock, and what we’ll be watching for with regard to JCP ahead.
Why Is JCP Headed Up?
As mentioned above, J C Penney Company is having an incredibly strong start to the trading session this morning, gaining more than 10% at the time of the writing of this article. However, with no news released, many are asking why the company is flying. Well, it’s got more to do with the retail industry as a whole than it does with JCP alone.
The reality is that today is the first trading session of the year, and investors are likely going to be paying close attention to retailers. After all, with the new year upon us, the 2017 holiday season is now over. Of course, this season is a massive season for spending, and investors are eagerly awaiting news surrounding just how well retailers did.
At the end of the day, while anything we say here is speculation without any releases, it only makes sense that investors are expecting an incredible report from the company with regard to holiday season sales. This, combined with excitement surrounding the price action itself seems to be the cause for the spike in value that we’re seeing in JCP today.
What We’re Seeing From The Stock
At the end of the day, while no news has been released, J C Penney Company investors are likely smiling from ear to ear. That’s because the stock is seeing some pretty incredible gains this session. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (10:57), JCP is trading at $3.50 per share after a gain of $0.34 per share (10.76%) thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on JCP. In particular, we’ll be watching for any news associated with the company’s performance during the holiday sales season. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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