Everybody loves an underdog ... or maybe investors are just can't look away from stocks that keep going down. J.C. Penney (JCP) fits both of those categories.
The retailer has been swimming in red ink for the past few years as Americans do more of their shopping online. The stock recently tumbled to its lowest levels in more than 30 years, though shares have bounced back a bit in February.
Ron Johnson tried to shake things up, but the former Apple (AAPL) retail exec stepped down as CEO last year after his overhaul of pricing angered some long-time customers.
Related: J.C. Penney almost a penny stock
Mike Ullman, who was replaced by Johnson, was reinstated as CEO and has been trying to woo consumers back by slashing prices and bringing back popular discount brands.
Ullman says the turnaround is progressing, but sales growth is still extremely weak.
