GameStop (GME) NewsBite - GME Forecast Disappoints

Posted: Thursday, May 21, 2009 11:58 AM EDT

GameStop (NYSE: GME) opened at $23.39. So far today, the stock has hit a low of $21.85 and a high of $23.59. GME is now trading at $22.46, down $4.01 (-15.15%). Over the last 52 weeks the stock has ranged from a low of $16.91 to a high of $52.89. Shares of GME are trading lower today after the company forecast second quarter EPS of 28 to 33 cents. Analysts are looking for EPS of 40 cents. 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 July out-of-the-money bear-call credit spread above the 26 range. [ABR-Seven Summits Strategic Investments NewsBite]

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