GameStop (GME) NewsBite - GME Downgraded By Credit Suisse
Posted: Tuesday, February 09, 2010 9:50 AM EDT
By: Market Intelligence Center Staff
GameStop (GME) was downgraded today by analysts at Credit Suisse and the stock is now at $18.85, down $0.84 (-4.27%) on volume of 1,382,588 shares traded. The brokerage lowered GME to Neutral from Outperform. Over the last 52 weeks the stock has ranged from a low of $19.42 to a high of $32.82. GameStop stock has been showing support around $19.36 and resistance in the $20.30 range. Technical indicators for the stock are bullish and S&P gives GME a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on GME the stock seems like it could be a candidate for an April out-of-the-money bear-call credit spread above the 22 range. [ABR-Seven Summits Strategic Investments NewsBite]
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