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JC Penney Aside, Short Sellers Have An Unlucky '13

wochit business
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September 27, 2013 AT 10:26 AM
The bears have been greedily feasting on what?s left of J.C. Penney for months. The most heavily shorted stock in the Standard & Poor?s 500 Index, Penney shares have collapsed by 50% so far this year to a 13-year low, as its disastrous merchandising changes under former CEO Ron Johnson deflate sales and drain the company?s cash rapidly.