Stock prices for J.C. Penney jumped after yet another tweak in CEO Ron Johnson's pricing policies for the embattled retail chain. The company will no longer maintain an everyday-low-price model, which had been blamed for eroding profits. Instead it will run about 100 sales and holiday events throughout the year, which is about 500 fewer promotions than the retail chain ran in 2011. Some investors are banking on J.C. Penney's failure, however, as about 25% of the outstanding shares were sold short this week, anticipating a drop.
J.C. Penney changes pricing strategy again; Wall Street reacts