GameStop (GME) NewsBite - GME Higher on Earnings

Posted: Thursday, March 26, 2009 10:01 AM EDT

GameStop (NYSE: GME) opened at $28.19. So far today, the stock has hit a low of $27.34 and a high of $28.45. GME is now trading at $27.63, up $0.79 (2.94%). Over the last 52 weeks the stock has ranged from a low of $16.91 to a high of $59.13. GME shares are trading higher this morning after the company posted a better-than-expected fourth-quarter profit of $232.3 million, or $1.39 per share, beating analysts' expectations of $1.34 per share. 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 May out-of-the-money bull-put credit spread below the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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