Gushan Environmental Energy (GU) NewsBite: GU Lower on Downgrade

Posted on Monday, March 31, 2008 2:29 PM

Gushan Environmental Energy Limited (GU) opened at 14.24. So far today, the stock has hit a low of 12.61 and a high of 14.24. GU is now trading at 12.98, down 2.07 (-14.54%). The stock hit its 52 week high of 15.52 last week and set its 52 week low of 7.00 in January. The stock had been in a steady sideways pattern since the start of the year before today's sell off. The stock was downgraded today by Piper Jaffray from a "buy" to a "neutral". Technical indicators for the stock are bullish and deteriorating. If you’re looking for a hedged play on this stock, consider a May bear-call credit spread above the $115 range. GU stock could rise up to 15.6% before expiration and this position would still be profitable. [RHF- Seven Summits Strategic Investments NewsBite]