JCPenney Shares Surge as Soros Reveals Big Stake
Billionaire informs SEC he owns 8%
By Newser Editors and Wire Services
Posted Apr 25, 2013 3:52 PM CDT
George Soros speaks in Berlin last year.   (AP Photo/Thomas Peter, Pool)

(Newser) – Finally, a spark of hope for floundering JCPenney. Shares of the retailer were up more than 6% in aftermarket trading today after billionaire financier George Soros disclosed a 7.9% stake in the company. Soros disclosed he owns about 17.4 million shares in a filing with the Securities and Exchange Commission. The SEC requires shareholders to disclose stakes of 5% or more in a company. Shares were up 98 cents, or 6.4%, to $16.22 in aftermarket trading, after ending 5 cents higher at $15.24.

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Showing 3 of 12 comments
KDickley
Apr 30, 2013 7:30 AM CDT
Soros is a piece of human shit. I won't be shopping there again.
right2dave
Apr 30, 2013 6:39 AM CDT
Rearranging the deck chairs in the Titanic?
NYLadygate
Apr 26, 2013 10:42 PM CDT
My shopping there will be limited after browsing online a couple of days ago. A jacket that retailed for $100 before, now sells for $230, and slacks that were $50, now sells for $100. The former prices were not sale prices, but regular. I can't imagine price markups like this will entice shoppers to hurry back.