The $2 Billion Man: Ron Johnson
Thursday, January 26, 2012 at 01:10PM With a gain of 17.3% so far today, shares of JC Penney (JCP) are currently on pace to have their third best day since at least 1980. The best day since 1980 for the company was in October 2000, while the second best day was on 6/14/11, when the company announced that Ron Johnson would become the company's CEO. If the stock closes above $40.32, today will go down as the best day for the stock since 1980.
Looking at the performance of JCP since last June, one could argue that making Ron Johnson CEO was one of the best moves the company has ever made. Since he was announced as the new CEO, the stock has rallied by more than 30% (S&P 500 up 4%). In terms of market cap, this translates to more than $2 billion.
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