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JC Penney Is Getting Punished

Matthew BoeslerSep 28, 2013, 01:13 IST

JC Penney is having a terrible day in the market.

Wednesday, Goldman Sachs released a report casting serious doubt on the embattled retailer's ability to finance itself.

Then, Thursday, after the closing bell, the company announced a secondary offering of 84 million shares.

Today, the stock is down 14%.

The chart below shows the damage.

Thinkorswim