Oplink Communications (OPLK) NewsBite - Oplink Plunges on Downgrade

Posted on Wednesday, March 05, 2008 2:29 PM

Oplink Communications Inc. (OPLK) opened at 12.34. So far today, the stock has hit a low of 11.38 and a high of 12.45. OPLK is now trading at 11.61, down 1.27 (-10.29%). The stock hit its 52 week high of 18.10 in March and set its 52 week low of 10.57 in January. OPLK has been slipping for the past year. Oplink Communications have been taking a hit today after an Oppenheimer analyst downgraded it to "Perform" from "Outperform," saying the stock will remain in its current range until margin issues and the company's growth profile become clear. Technical indicators for the stock are neutral and improving. If you’re looking for a hedged play on this stock, consider a July bear-call credit spread above the $15 range. OPLK stock could rise up to 29.2% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]