Lululemon Athletica (LULU) NewsBite - LULU Falls on Low Volume

Friday, January 02, 2009 10:09 AM EDT

Lululemon Athletica (NasdaqNM: LULU) opened at $7.95. So far today, the stock has hit a low of $7.58 and a high of $8.09. LULU is now trading at $7.67, down $0.26 (-3.28%). Over the last 52 weeks the stock has ranged from a low of $6.82 to a high of $48.33. Shares of LULU are declining this morning on lighter-than-usual volume. Investors traded less than 3 percent of LULU's average daily volume of 750 thousand shares in the first 20 minutes of trading, which are usually a flurry of activity. This could mean that there is a shortage of buyers on the market this morning. Technical indicators for the stock are bearish and S&P does not currently have a STARS rating for LULU. If you are looking for a hedged play on LULU the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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