Retailing dinosaur JC Penney has been discussed from time to time here on Slope, including this post early in August in which I pointed out the stock was breaking an ancient trendline and, in spite of looking “cheap”, was vulnerable to continued weakness. Well, weakness has ensued mightily, as the king of leisure suits is getting pummelled to price levels that were equal to those in (and I’m not making this up) 1972.
