James River Coal (JRCC) NewsBite - JRCC Plunges on Lower Coal Futures

Posted on Tuesday, July 22, 2008 3:34 PM

James River Coal Co. (JRCC) opened at 42.92. So far today, the stock has hit a low of 38.86 and a high of 43.05. JRCC is now trading at 39.01, down 4.31 (-10.04%). The stock hit its 52 week high of 62.83 in June and set its 52 week low of 3.56 in August. JRCC has been moving downwards for the past year. Shares of James River Coal have been plunging today on pressure from lower coal futures. Technical indicators for the stock are bullish but deteriorating while S&P gives JRCC a neutral 3 STARS (out of 5) hold rating. If you’re looking for a hedged play on this stock, consider an August bear-call credit spread above the $55 range. JRCC stock could rise up to 41% before expiration and this position would still be profitable. [RHF - Seven Summits Strategic Investments NewsBite]