Rambus (RMBS) NewsBite - RMBS Falls on Tech Selloff

Posted: Thursday, November 19, 2009 11:19 AM EDT

Rambus (NasdaqNM: RMBS) opened at $18.32. So far today, the stock has hit a low of $18.16 and a high of $18.44. RMBS is now trading at $18.18, down $0.53 (-2.83%). Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $19.94. Shares of RMBS are falling with other tech stocks after an analyst at Merrill Lynch warned that semiconductor inventory levels may soon exceed demand, triggering a selloff in the tech sector. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for RMBS. If you are looking for a hedged play on RMBS the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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