JC Penney (JCP) shares jumped around 2 p.m. today on no� apparent news.
Unless you count a positive tweet from a fashion maven as “news”.
Nina Garcia, a judge on the television show Project Runway and the fashion director at Marie Claire, made a positive comment about JC Penney’s new fashion line this afternoon, and the stock rose at approximately the same time (or a minute or 2 beforehand). Garcia was apparently hired as a merchandising consultant for the company last week.
Below is the tweet in question:
I’m @jcpenney‘s HQ. Thank you Ron Johson for the walk through of JCP’s prototype. Get ready to shop! Its going to be a game changer!
— Nina Garcia (@ninagarcia) July 25, 2012
Shares were recently up 4.5%. The short-sellers don’t know what just hit them.
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