Ackman Done With J.C. Penney, Sells Entire Stake (JCP)
August 27, 2013 at 08:58 AM EDT
Immediately following the closing bell Monday, news broke that Pershing Square Capital, the hedge fund operated by billionaire investor Bill Ackman, was liquidating its entire position in J.C. Penney (NYSE: JCP ) The hedge fund held 39 million shares representing an 18 percent stake in the $3 billion retailer. It
