SanDisk (SNDK) NewsBite - SanDisk Introduces Sansa Fuze MP3 Player

Posted on Wednesday, March 12, 2008 10:59 AM

SanDisk Corp. (SNDK) opened at 21.77. So far today, the stock has hit a low of 21.59 and a high of 22.53. SNDK is now trading at 22.51, up 0.72 (3.31%). The stock hit its 52 week high of 59.75 in July and set its 52 week low of 21.10 in March. SNDK has been losing ground since September of last year. SanDisk unveiled yesterday its new multi-faceted Sansa Fuze MP3 player. The music player's availability is planned for early April. Technical indicators for the stock are neutral and improving while S&P gives SNDK a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider a July bull-put credit spread below the $15 range. SNDK stock could fall up to 33.4% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]