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Trading Ideas

J.C. Penney files for bankruptcy protection

May 16, 2020 admin Comments Off on J.C. Penney files for bankruptcy protection

J.C. Penney Co Inc filed for bankruptcy protection on Friday with plans to permanently close some stores and also explore a possible sale, making it the latest brick-and-mortar retailer to crumble as prolonged store closures in response to the COVID-19 pandemic drive a final stake through long-troubled businesses. The U.S. department store chain, known for selling family apparel, cosmetics and jewelry at roughly 850 locations, said it reached an agreement with existing lenders for $900 million of debtor-in-possession financing to aid operations while it navigates bankruptcy proceedings in federal court in Corpus Christi, Texas. The loan consists …read more […]

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J.C. Penney Bankruptcy May Not Buy Enough Time

May 16, 2020 admin Comments Off on J.C. Penney Bankruptcy May Not Buy Enough Time

(Bloomberg Opinion) — When research firm GlobalData surveyed Americans on which stores they were most looking forward to visiting once the Covid-19 pandemic subsided, one household name came out near the bottom, and well below its department-store peers: J.C. Penney. That helps to explain Friday’s late news that the retailer — which began life in 1902 as a store called The Golden Rule — filed for bankruptcy protection. Pushed to the brink by the coronavirus shutdowns, J.C. Penney Co. was seemingly left with no other choice. But years of struggle and strategic missteps had laid the groundwork.After securing $900 million …read more […]

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Kingsoft IPO: Stock Successfully Launches on the Nasdaq

May 16, 2020 admin Comments Off on Kingsoft IPO: Stock Successfully Launches on the Nasdaq

The Kingsoft IPO recently hit the market. Kingsoft Cloud (Nasdaq: KC) is the first Chinese company to go public since the Luckin Coffee scandal in April. But even though investors are wary of Chinese companies, the launch of Kingsoft stock was successful.
So, should you invest in Kingsoft Cloud? Here’s what we know…
Kingsoft IPO: The Business

Founded in 2012, Kingsoft Cloud is China’s largest independent cloud service provider. And overall, it’s the third largest provider with a market share of 5.4%. Its main competitors are Alibaba (NYSE: BABA) and Tencent (OTCMKTS: TCEHY). But Kingsoft believes it has a leading position as global …read more […]