Rambus (RMBS) NewsBite - FTC Withdraws Case Against RMBS

Posted: Thursday, May 14, 2009 11:26 AM EDT

Rambus (NasdaqNM: RMBS) opened at $11.70. So far today, the stock has hit a low of $11.27 and a high of $12.21. RMBS is now trading at $11.78, up $1.00 (9.27%). Over the last 52 weeks the stock has ranged from a low of $4.95 to a high of $22.79. Shares of RMBS are rising today after the Federal Trade Commission withdrew its antitrust case against the company due to a recent Supreme Court ruling against the FTC. The withdrawal eliminates the possibility of further litigation in the matter. Technical indicators for the stock are bullish 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 June out-of-the-money bull-put credit spread below the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]

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