PLANO (1080 KRLD) - The stock of Plano-based JC Penney is still struggling, but it's looking a little better.
Shares closed above $1 yesterday for the first time in nearly two months.
On August 23rd, the stock bottomed out at $0.55. But then corporate officers including CEO Jill Soltau started buying the stock in hopes of propping up the price. Yesterday, it closed at $1.01.
The eliminates the immediate prospect of being de-listed by the New York Stock Exchange. However, the company still has to clear additional hurdles before the 'Big Board' drops its de-listing threat for good.