Yahoo! (YHOO) NewsBite - Yahoo! Flat on Upgrade

Posted on Wednesday, June 25, 2008 3:22 PM

Yahoo! Inc. (YHOO) opened at 22.00. So far today, the stock has hit a low of 21.86 and a high of 22.24. YHOO is now trading at 22.02, down 0.02 (-0.09%). The stock hit its 52 week high of 34.08 in October and set its 52 week low of 18.58 in January. YHOO had a big jump in February, but has shown signs of weakness since then. Yahoo! Shares have been relatively flat after a Canaccord Adams analyst upped the stock to "Hold" from "Sell." Technical indicators for the stock are bearish and steady while S&P gives YHOO a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $17.50 range. YHOO stock could fall up to 20.5% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]