Activision (ATVI) NewsBite - ATVI Rises on Industry Consolidation
Posted: Tuesday, November 18, 2008 10:33 AM EDT
By: Market Intelligence Center Staff
Activision (NasdaqNM: ATVI) opened at $10.76. So far today, the stock has hit a low of $10.42 and a high of $10.96. ATVI is now trading at $10.64, up $0.17 (1.62%). Over the last 52 weeks the stock has ranged from a low of $9.40 to a high of $19.28. ATVI shares are rising today after Japanese competitor Koei Co. Ltd. said it would buy rival Tecmo Ltd. in a $207 million stock deal. The deal has boosted other video-game stocks this morning. Technical indicators for the stock are neutral and S&P gives ATVI a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on ATVI the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 8.75 range. [ABR-Seven Summits Strategic Investments NewsBite]
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