Why is this stock down from a high of 87 to around 5 dollar?

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JCP traded as high as 87 in 2008 and now trades near 5 dollars.There is always a reason why a stock will get down to these kind of beaten down level. Something is terribly wrong in the business. For 5 years it is in downtrend.When you look at the stocks down 50% plus from 52 week high they will invariably have a catalyst for that kind of drop.Some of the common reason for a big drop are: excessive bullishness driving stock to unsustainable level resulting in subsequent drop loss of earnings power high cost high debt management changes outdated technology faulty business model industry structure change fashion or craze product loses appeal overall economic slowdown replacement product at lower price mergers gone wrong product recalls natural disaster regulatory action …


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