JC Penney update

Last quarter, billionaire George Soros acquired 19.9 million shares, representing 3.70% of his holdings. Soros paid an average price of $16.66. As mentioned, the stock is less than half of the price he paid right now. Today it went up about 7% as it reiterated that sales were better. The media has beaten down this stock indicating may run out of money. However, they raised capital through their equity offering so I think they should be fine in regards to cash flow.