In early October of 2010 Bill Ackman decided to invest in JC Penney Company Inc. (NYSE:JCP). Since then the firm’s stock has wallowed and today remains lower than the price Ackman bought in at. The firm is edging closer to its 52 week low of 23.44 closing today at 24.27. Despite this Ackman remains positive on the stock. At the Ira Sohn conference Ackman spent a great deal of time defending the company and arguing that it had now hit its low and was about to go through a huge turnaround. After more than a year and a half at…
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