Martha Stewart Living Omnimedia (MSO) NewsBite - Downgrade Drags Down MSO

Posted on Wednesday, April 30, 2008 2:22 PM

Martha Stewart Living Omnimedia Inc. (MSO) opened at 7.75. So far today, the stock has hit a low of 7.50 and a high of 7.89. MSO is now trading at 7.87, down 0.24 (-3.10%). The stock hit its 52 week high of 19.37 in May and set its 52 week low of 5.22 in January. MSO fell during 2007, but has been stronger since the beginning of this year. Martha Stewart Living Omnimedia shares have been falling into the red after a RBC Capital Markets analyst slashed his rating on the stock to "Sector Perform" from "Outperform." Technical indicators for the stock are bullish and steady. If you’re looking for a hedged play on this stock, consider a September bear-call credit spread above the $10 range. MSO stock could rise up to 27.1% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]