Nina Garcia Moves JC Penny Stock 10%

Jul 25, 2012
J. Webster
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Yeah, I’ve watched Project Runway a number of times, and my favorite judge on the show just so happens to be Nina Garcia. Not only is she smart but she’s beautiful. But I was surprised to hear she was the one who moved JP Penny’s stock 10% when she sent out this tweet:

Nina Garcia, Marie Claire magazine fashion editor and judge on television show “Project Runway”, said in a tweet.

Garcia also signed on last week as J.C. Penney’s “Style Voice” and fashion collection curator.

Penney shares rose to as much as $23.09. The stock was up 4.9 percent at $22.02 later on Wednesday afternoon on the New York Stock Exchange.

TD Ameritrade chief derivatives strategist J.J. Kinahan pointed to the message in explaining the share spike.

“With that we saw the stock go sharply higher” along with increased buying in call options, a bullish play, Kinahan said.

Some analysts questioned whether the tweet by Garcia caused the stock move, but could not point to another reason for the jump. (Reuters)

As you can see, around the middle of the afternoon, shares of JC Penny (JCP) shot up like a rocket when Garcia tweeted the message. Didn’t know she had so much power!

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