Geometry Dash APK Hill Climb Racing APK
76.4 F
New York
Sunday, May 22, 2022

J.C. Penney Company Inc (OTCMKTS:JCPNQ) Builds Momentum on Amazon Rumors

Must read

Asia Broadband Inc (OTCMKTS:AABB) Is Up 1100% This year: What’s The Buzz?

There are some stocks that have managed to clock massive over the course of the past month or so and one of...

Blockchain Technologies Ltd (OTCMKTS:HVBTF) Makes A Stunning Move on Blockchain Optimism

The cryptocurrency boom has sustained for many months now and it anything; it is expected to continue in the future.

Bombardier, Inc. (OTCMKTS:BDRBF) Continues to Gain Momentum and Strength

Many stocks have managed to record significant gains in recent months and one that often flies under the radar is Bombardier,...

Grayscale Bitcoin Trust (Btc) (GBTC) Makes Big Move As Bitcoin Goes Wild

Bitcoin, the world’s biggest cryptocurrency by market cap, has been in the middle of a remarkable rally for the past few months...

Legendary American departmental store operator J.C. Penney has been in all kinds of trouble in recent times and recently, the company even filed for bankruptcy. However, J.C. Penney Company Inc (OTCMKTS:JCPNQ) received a major boost this morning after it emerged that e-commerce giant Amazon is in discussions with mall owners Simon Property Group with regards to using closed Sears and J.C. Penney stores are fulfillment centers.

Latest Development

Considering the acute trouble the company is under, it is no surprise that the news has resulted in a strong rally in the stock this morning. The J.C. Penney stock rallied by as much as 20% today and in such a situation, it could be worthwhile for investors to take a closer look at the developments.

According to a report in the Wall Street Journal, Amazon sees as a strategic advantage in turning these stores into fulfillment centers. Since these stores are situated in residential areas, it will help Amazon with last-mile delivery. On the other hand, for the mall owner Simon Property Group, it would allow the company is continuing to earning money from a tenant although it would be a blow to mall traffic. Neither Amazon nor Simon Property was willing to comment on the news.

Amazon has always been focussed on finding ways to make its last-mile delivery more efficient and the J.C. Penny and Sears stores give the Jeff Bezos-owned company the perfect opportunity to move into residential areas.

While it is true that the coronavirus pandemic has proven to be the right time for such an investment, it should be noted that Amazon had been in discussions with Simon Property prior to the onset of the pandemic. In addition to the news about the rally in the J.C. Penney stock, investors should also note that Simon Property Group and Brookfield Property have put in a joint bid to acquire the retail chain operator.

Latest article

Trans Global Group Inc (OTCMKTS:TGGI) Stock In Focus After Operational Updates

The Trans Global Group Inc (OTCMKTS:TGGI) stock may not have been in the news today yet but it...

Why Hycroft Mining (NASDAQ:HYMC) Stock Shot Up 700%

If you are on the hunt for stocks that may have made major gains over the course of the past week, then...

Secure Paymentz releases banking software demo on Github

This is a paid announcement from one of our advertising partners. How to Leverage Your Trading Position by Secure...

Advanced Asset Management Announces New Website Launch

This is a paid announcement from one of our advertising partners. Financial Planner in Grandville, Michigan

88 Energy Ltd (OTCMKTS:EEENF) Stock In Focus After Recent News

Every day plenty of investors look for stocks to invest in from the oil and gas sector. It is a vast industry...
Şehirler arası nakliyat ve Şehirler arası taşımacılık konusunda en uygun fiyatlar ve en kaliteli hizmet.
ofis taşıma firmaları ve ofis taşıma konusunda en uygun fiyatlar ve en kaliteli hizmet. Affordable best sms verification service