Gushan Environment Energy (GU) NewsBite - GU Jumps on Higher Gas Prices

Posted on Monday, April 21, 2008 1:26 PM

Gushan Environment Energy Ltd. (GU) opened at 14.17. So far today, the stock has hit a low of 14.17 and a high of 14.85. GU is now trading at 14.71, up 0.54 (3.81%). The stock hit its 52 week high of 16.06 in April and set its 52 week low of 7.00 in January. The stock has been climbing since its initial offering in December of last year. Shares of Gushan Environment Energy have been soaring in today's session as retail gas prices jumped to an average $3.50 a gallon while crude oil prices set new records, spiking above $117 a barrel. If you’re looking for a hedged play on this stock, consider a June bull-put credit spread below the $10 range. GU stock could fall up to 32% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]