penny stocks to buy JCP stock

Penny stocks are an interesting breed of equities and no company personifies this more than J.C. Penney Company Inc (JCP Stock Report). It used to be one of the best known department-store chains in the United States. But over the past few years, the company has been in a highly damaging downward spiral.

The reason behind the company’s meltdown has been dwindling sales due to the onslaught of a range of competitors and a debt burden that runs into several billions of dollars.

penny stocks to buy JCP stock

Back in July, the company seemed in genuine trouble as it had to restructure its business. This penny stock has also discussed restructuring its debt. Meanwhile, the stock price kept plunging new lows and at one stage, it went below the critical level of $ 1.

Is There Any Hope for this Penny Stock?

Just when it seemed that there was no hope for the company, things seemed to move in a positive direction. In its fiscal second-quarter results this year, the company’s results proved better than many had expected.

Although its sales dropped, J. C. Penney managed to reduce its losses somewhat. However, the most important update that hit the penny stock’s news cycle a day after the company’s second-quarter results stoked optimism to a much higher degree.

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As always, a deeper look is critical when it comes to finding the best penny stocks or penny stocks that may have underlying bullishness. Regulatory filings showed that the top executives at the company had been heavily buying the stock. It goes without saying, that it’s a huge positive for investors. Moreover, it could attract new investors to the stock as well.

penny stocks to watch JCP FORM 4
FORM 4 filings show insider buying

Top executives buy shares in their own companies when they are confident that the company may still have fight left in it. J. C. Penney’s chairman of the board, Ronald Tysoe bought 1 million shares for around $600,000, while the Chief Executive Officer Jill Soltau bought 500,000 shares. In addition to Tysoe and Soltao, other executives bought as well. In total, they bought 2 million shares over the course of a few weeks.

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