General Growth Properties Inc.
(GGP) opened at 29.98. So far today, the stock has hit a low of 29.90 and a high of 31.35. GGP is now trading at 30.35, up 0.93 (3.10%). The stock hit its 52 week high of 57.84 in October and set its 52 week low of 26.72 in July. GGP has been slipping for most of the past year. General Growth Properties shares have been soaring with other financial companies after JP Morgan Chase
(JPM) topped analysts' predictions with earnings of 54 cents a share after incurring a $540 million loss linked to the acquisition of Bear Stearns in March. Technical indicators for the stock are bearish and steady while S&P gives GGP a positive 4 STARS (out of 5) buy rating. If you’re looking for a hedged play on this stock, consider an August bull-put credit spread below the $25 range. GGP stock could fall up to 17.6% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]