Do Recent J.C. Penney Share Prices Reflect Investor Optimism or False Hope?

J.C. Penney (NYSE: JCP ) shares jumped more than eight percent Wednesday closing at $9.44. This, despite a $489 million Q3 loss, compared with a $123 million loss during the same period a year ago. The adjusted loss of $1.81 per share was more than the $1.77 per share loss