Reverse splits the vast majority of time is a death knell creating a downward spiral of the value. Investors see reverse splits as lack of stability, and not much hope of reversing a downward valuation.
Thus the death spiral.
I called this same thing on Wave Systems a decade ago.
Back then though there was a lying, theiving scam artist running Wave systems. And a bunch of others who ran boards who were in on it encouraging people to invest in this once in a lifetime disruptive tecnology. Pumpers.
I like Penneys. As a store. I can usually always find some comfortable clothing to wear there at reasonable pricing.
I hope they can reverse their trend and find a way to re-attract the mainstream of their buyers. The women's clothing over the past ten years has been all directed at young and younger hooker looking apparel. Over 40 women don;t care for that stupid look and lets face it, the youngsters do not have the money or buying power that us older foks have.
Big HINT: Cater to those who CAN buy your merchandise and have the money.... Bring back those long time former customers.... People in their fifties and sixties would be a great place and even seventies.
The young and terminally stupid not only don;t have jobs and don't want to work, they have no money... kind of goes hand in hand.....
I think they have started to do this as the women's clothing is starting to look better and something evenmy wife would wear...
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