J.C. Penney Co. Inc.'s stock JCP, -23.65% took a 23% dive in very active premarket trade Thursday, in the aftermath of a wider-than-expected second-quarter loss and lowered outlook, to put it on track to open at a record low, as well as its biggest-ever one-day percentage loss. Volume spiked to 2.1 million shares, making the stock the most actively traded ahead of the open. The full-day average is about 11.9 million shares. The stock's previous record close was $2.30 on May 25, 2018. The previous biggest one-day loss was 19.7% on May 16, 2012, followed by a 19.2% decline on Oct. 19, 1987, or Black Monday, according to FactSet. The stock had tumbled 21.5% over the past three months through Wednesday, while the SPDR S&P Retail ETF XRT, +0.73% had climbed 7.5% and the S&P 500 SPX, +0.66% had gained 3.5%.
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