Cramer: Jump on J.C. Penney

Has J.C. Penney (JCP) bottomed? How many times have I heard that one? It has to be the most asked question now that we are seeing some of the highest quality hedge funds in the situation, including Perry Capital (run by my old friend Rich Perry) as well as Glenview Capital and Kyle Bass. Suffice it to say that I don't think there could be many investors as wise as these people. They aren't approaching the situation idly and I think they are going to be right. Why is that?

To begin with, let's face it, even just for a trade, this could be a good one. Remember, lots of this stock was bought on the giant "print of pique" that Bill "taking my bat and my ball and I'm going home" Ackman unleashed in the market. Ackman famously upended the company by ushering in Ron Johnson, who then almost blew the whole thing up....261 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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