One of the wildest months the gold market has seen in years is coming to an end. The yellow metal has been recovering from its biggest drop in 30 years, after prices plummeted 13% in mid-April. But while gold continues to rebound strongly, it's unlikely to return to its bull run anytime soon.
In fact, it may not be that far-fetched to say JC Penney is looking to be a better bet than gold these days.
Last week, billionaire investor George Soros bought a $7.9% stake in the retailer, making him the troubled company's fourth-largest shareholder, according to Bloomberg's estimates. His vote of confidence came about two weeks after JC Penney CEO Ron Johnson resigned. A former Apple executive, Johnson instituted ambitious changes to remake the chain but sales continued plummeting during his year and a half on the job.
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