Walmart (WMT), the US supermarket giant, has far exceeded market expectations with heavy investments that would begin to produce good results since the adjusted earnings per share stood at USD 1.29 against USD 1.22 expected. With a total growth of 2% in 2019, WMT is also seeing 40% growth in its US e-commerce business in the second quarter of 2018. WMT share price jumped by 9.33% to reach 98.64 USD, nearly 20 USD over its valuation a year ago. Conversely, JC Penney (JCP), the legendary US department store chain, fell 26.27% to 1.76 USD per share after its loss in the second quarter of 2018 amounted to USD 101 million or 32 cents per share, 26 cents more than forecast by the market. Knowing that for the year 2018, the total loss could amount to 1 USD per share, has JCP become a “penny stock”?
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