Digital River (DRIV) NewsBite - DRIV Downgraded By Oppenheimer

Posted: Friday, January 23, 2009 1:56 PM EDT

Digital River (DRIV) was downgraded today by analysts at Oppenheimer and the stock is now at $20.75, down $1.77 (-7.86%) on volume of 731,990 shares traded. The analysts downgraded DRIV to "Underperform" from "Perform." Over the last 52 weeks the stock has ranged from a low of $16.88 to a high of $45.45. Digital River stock has been showing support around $21.37 and resistance in the $23.65 range. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for DRIV. If you are looking for a hedged play on DRIV the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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