Welcome to NexusFi: the best trading community on the planet, with over 150,000 members Sign Up Now for Free
Genuine reviews from real traders, not fake reviews from stealth vendors
Quality education from leading professional traders
We are a friendly, helpful, and positive community
We do not tolerate rude behavior, trolling, or vendors advertising in posts
We are here to help, just let us know what you need
You'll need to register in order to view the content of the threads and start contributing to our community. It's free for basic access, or support us by becoming an Elite Member -- see if you qualify for a discount below.
-- Big Mike, Site Administrator
(If you already have an account, login at the top of the page)
Not quite sure I'm ready to jump on the JCP boat just yet. I'm curious how all those shares will price.
Those 39 million shares are 17% of the company with 220 million shares outstanding...83 million float...45% potential increase to float....granted that most of those shares won't go to the float since they will get locked up by institutions. Still numbers like that make me nervous.
If it prices at a discount, trades down to test that level, and bounces then I would entertain the long side.
Edit:
Surprised that it appears to be pricing at $12.90, expected more of a discount, apparently like a lot of people because that news bounced the stock 3%.
There is 12.90...touch but no break thus far Will be interesting to see if it holds. I'd rather see it blow through it before the offering is finalized to get the best downside bang.
I've got some crapshoot January put options on this thing, but will consider long if it appears to stabilize.