Medifast (MED) NewsBite - MED Falls on Economic Worries

Posted: Friday, November 06, 2009 11:06 AM EDT

Medifast (NYSE: MED) opened at $26.45. So far today, the stock has hit a low of $25.59 and a high of $26.47. MED is now trading at $25.80, down $0.70 (-2.65%). Over the last 52 weeks the stock has ranged from a low of $3.35 to a high of $26.89. MED shares are declining with other retail stocks today after the Labor Department said unemployment rose to 10.2 percent in October, triggering worries that lingering high unemployment will cut into consumer spending. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for MED. If you are looking for a hedged play on MED the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]

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