Usman Shah
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Ackman Officially Out of JCP

J.C. Penney Company Inc (NYSE: JCP) finally gets rid of Ackman forever, the hedgefund manager is selling his 18% majority share for $504.4 million. Ackman had a total of  39.1 million shares of JCP he sold the shared for $12.90, the stock declined down to $13.09, 26 cents below Monday's closing price of $13.35. The stock is currently trading back up at $13.30 a share, Ackman had paid $25.00 a share in 2010, that means he took a hit of $470 million, thats like hitting the Power Ball twice. Now its up to the company to turn things around, JCP was once trading at $81.43 a share, can they bring it back up to that point or atleast the 52 week high of $32.55 a share.