Ackman sells stake in J.C. Penney

6:33 AM ET Tue, 27 Aug 2013

Hedge fund manager Bill Ackman is selling all of his holdings in J.C. Penney, reports CNBC's Courtney Reagan. And Dana Telsey, Telsey Advisory Group CEO, explains why Ackman's move was "disruptive," and discusses whether Wall Street will give the retailer time to reverse course and show positive momentum.