Rambus (RMBS) NewsBite - RMBS Falls on Legal Ruling
Posted: Wednesday, February 04, 2009 11:03 AM EDT
By: Market Intelligence Center Staff
Rambus (NasdaqNM: RMBS) opened at $7.05. So far today, the stock has hit a low of $7.01 and a high of $8.10. RMBS is now trading at $7.65, down $1.30 (-14.53%). Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $26.41. RMBS shares are trading lower today after a California judge suspended hearings in the company's patent-infringement cases against several chip makers, including Micron Technology (MU) and Hynix Semiconductor (HXSCL). Technical indicators for the stock are neutral and S&P does not currently have a STARS rating for RMBS. If you are looking for a hedged play on RMBS 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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