Circuit City Stores Inc.
(CC) opened at 2.22. So far today, the stock has hit a low of 2.10 and a high of 2.27. CC is now trading at 2.18, down 0.37 (-16.67%). The stock hit its 52 week high of 15.33 in July and set its 52 week low of 2.10 today. CC has been moving downwards for the past year. Circuit City Stores shares have been taking a hit after Blockbuster Inc.
(BBI) withdrew its bid for the company, citing "market conditions." In April, Blockbuster had offered to buy Circuit City for at least $6 a share, or more than $1 billion. Technical indicators for the stock are bearish and steady while S&P gives CC a neutral 3 STARS (out of 5) hold rating. We will just watch this one for now. There are no trades that we like for CC. [RHF - Seven Summits Strategic Investments NewsBite]