GameStop (GME) NewsBite - Same-Store Sales Boost GME

Posted: Thursday, January 08, 2009 2:39 PM EDT

GameStop (NYSE: GME) opened at $24.69. So far today, the stock has hit a low of $23.00 and a high of $25.70. GME is now trading at $25.66, up $3.05 (13.49%). Over the last 52 weeks the stock has ranged from a low of $16.91 to a high of $59.13. Shares of GME are rising today after the company posted a 10.2 percent rise in holiday same-store sales, and lifted the low end of its Q4 EPS estimates to a range of $1.31 to $1.34. Technical indicators for the stock are bullish and S&P gives GME a positive 5 STARS (out of 5) strong buy ranking. If you are looking for a hedged play on GME the stock seems like it could be a candidate for a February out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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