Mighty Stock To Increase Your Wealth: J C Penney (OTC: JCPNQ)

Not many investors witness how their wealth jump in value by tenfold minimum. That’s caused by lacking research on widely open stock markets with the highest volatility. Today a lifestyle based retailer J. C. Penney pops at least by 80% on more than 30 million shares that are bought quickly by profit-seeking traders.

Hit by the pandemic

During the lockdown, J C Penney has lost significant revenue and had no choice except to close many retail stores to save even pennies to keep running. On May 20 the top management filed for bankruptcy in order to restructure the business and emerge during the pandemic. Additionally, violent protests across the U.S became another problem that affected shrinking revenue directly.

Stock rises

As the landlords are aiding the chain of J.C Penny stores in surviving the crisis the stock is soaring from $0.1920 to $0.3352. Many traders see here a low hanging fruit that can sharply increase their investments out of miserable penny costing JCPNQ shares.

Anthony Gonzales

Biotech, Tech, and Crypto reporterAnthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.