New York (CNN Business) As the Dow posted its biggest daily point gain ever, JCPenney's stock fell below $1 for the first time since it started trading in 1929. That's pretty much everything you need to know about the state of JCPenney ( JCP ). JCPenney is $4 billion in debt with a junk credit rating, a sinking cash hoard and no sign of a turnaround. With few shoppers coming to stores, JCPenney faces inventory and supply chain struggles and no clear marketing plan or strategy . Last month, JCPenney reported a $151 million third-quarter loss and a 5.4% drop in sales.

Source: CNN December 26, 2018 20:23 UTC