JCPenney (JCP) reported an adjusted loss of $69 million in the first quarter, even worse than Wall Street was expecting, and lowered its projections for the year. But JCPenney is lagging, and investors are running out of patience. That means JCPenney is now a penny stock, Wall Street jargon for a company with a stock price in the low single digits. Perhaps the most worrisome thing for JCPenney, though, is that it appears to be running out of both cash and time to fix things. That's why Wall Street thinks the clock is ticking for JCPenney.

Source: CNN May 17, 2018 14:26 UTC